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The UK has advanced the terms of trade negotiations with the EU

London has approved a mandate to negotiate further co-operation with the EU. The British government is expecting significant progress by mid-2020.

The UK has advanced the terms of trade negotiations with the EU

The British government has announced a mandate to negotiate with the EU on further relations with it after Brexit. In particular, the document states that, in the absence of “significant progress” in negotiations on a “standard” free trade agreement with the EU and on “less controversial” issues by June this year, London reserves the right to suspend further negotiations altogether.

In addition, the transition period will not continue beyond December 31, 2020. Therefore, from January 1, 2021, the UK must leave the EU single market and its customs union. “At the end of the transition period, December 31, the UK will fully regain its economic and political independence. We want the best possible trade relations with the EU, but as we seek an agreement, we will not yield to our sovereignty, ” said UK Cabinet Minister Michael Gove, presenting his negotiating mandate. In London, it is noted that this time will be sufficient to complete trade negotiations with Brussels.

Separate agreements in different fields

London is in favor of concluding a free trade agreement with the EU, as well as separate agreements between the parties in various fields, in particular fisheries, criminal prosecution, and co-operation in the field of justice. After finally leaving the bloc, London has no plans to participate in a European arrest warrant, which has been in force across the EU since 2004, is being mandated. Also, the British government will not agree to any harmonization of its laws with EU rules.

British Prime Minister Boris Johnson is optimistic about trade talks with the EU. “We want a great relationship with our friends. We buy a lot of their stuff, they buy a lot of our stuff. There is a good chance not only to support what we already have but to strengthen our economic interpenetration and to trade more together, ” he told Sky News on Thursday.

Brussels is ready to start negotiations

EU negotiating official with the UK, Michel Barnier, has announced that he has taken note of the UK's mandate in Brussels and is planning to discuss his own positions on Monday, March 2nd. On Monday, talks are scheduled to begin between London and Brussels on further relations. “We want an ambitious and honest partnership with the UK in the future,” Barnier wrote on Twitter on Thursday.

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