Brussels: The initial free trade agreement (FTA) has been signed between Britain and the European Union (EU). This will not create any dislocation in the new year for cross-border trade and the Brexit deadlock will provide some relief to companies affected over the years. A week before Britain broke away from Brexit, the matter was successful on Thursday.
After this deal, British Prime Minister Boris Johnson expressed happiness. He tweeted with his picture, ‘Sauda gaya hai’.
The deal is done. pic.twitter.com/zzhvxOSeWz
– Boris Johnson (@BorisJohnson) December 24, 2020
Downing Street said in a statement, “We have completed Brexit and now we can take full advantage of the opportunities available to us as an independent trading country and enter into trade agreements with other partners of the world.” ‘
Downing Street announced, “We have signed the first free trade agreement on the basis of zero duty and zero quota.” It is the largest bilateral trade agreement signed by both sides. Under this, trade worth 668 billion pounds comes in 2019.
Downing Street said that Britain had regained control of its money, customs, laws, trade and fishing waters. “On the other hand, the European Union said it was a good agreement, which was a ‘long and Shows a wide path.
“We finally reached the agreement,” European Union President Ursula von der Leyen said at a press conference in Bressles. This is a fair and responsible agreement. ”
He said, “EU rules and norms will be respected. Britain was our ally for a long time. Now is the time to look to the future as Britain will now be the ‘third country’ in relations with the economic bloc. ”
Now there will be a ‘race’ to approve and approve this agreement before Britain exits the economic structure of the European Union. Both the UK and the European Parliament have to vote on this agreement. Tensions arose several times between the two sides in negotiations over this agreement for months.
The main issue between the two sides was the fair competition rules, the mechanism for settling future disputes and the right to fishing. The final hurdle was the right to transport EU boats into British waters, which was later resolved. However, the important aspects of future relations between the bloc and its former member of 27 countries are not settled.
India said, hopeful to welcome British Prime Minister Boris Johnson