The European Union and the UK have reached a post-Brexit open market offer, officials announced Thursday – — just days before the U.K. is scheduled to settle its departure from the bloc at the end of the year.
“So we have lastly discovered an agreement. It was a long and winding roadway however we have got a bargain to reveal for it,” E.U. Commission President Ursula von der Leyen said at a press conference.
The deal ought to avoid a disorderly economic break between the two sides on New Year’s Day after fears of lines at ports and tariffs between the two sides if no deal was achieved.
The E.U. leader stated relief at a deal being reached however also stated that “parting was such sweet grief” as the yearslong saga ended, and the U.K. would complete its departure after 47 years from what begun as an easy trading bloc and expanded its power and impact over decades of contracts.
U.K. Prime Minister Boris Johnson was more triumphant, tweeting, “The offer is done” as his E.U. counterpart was speaking.
He then told Brits that he was “really delighted to inform you that we have finished the greatest trade deal yet, worth £& pound; 660 billion a year, a detailed Canada-style open market deal between the U.K. and E.U.”
“It accomplishes something that the people of this nation intuitively knew was workable but they were informed was impossible– we have taken back control of our laws and our fate, we have taken back control of every jot and tittle of our regulation in such a way that is total and unconfined,” he stated.
Britain officially left the bloc in January, causing a transition period up until the completion of 2020 to permit mediators to whip out a free trade offer. But both sides had at times had a hard time to discover agreement, exacerbated by the obstacles of the coronavirus pandemic, which shuttered travel along with in-person contact– while also drawing attention and resources far from what otherwise would have been the number-one issue for the U.K.
The contract now goes to the 27 E.U. nations looking for consentaneous approval, in addition to the true blessing of the E.U. and British parliaments. Johnson said Parliament would vote on Dec. 30.
It marks a remarkable end to yet another part of the at-time relentless Brexit legend that has seen a variety of twists and turns since Brits voted to leave in 2016. The offer had appeared doomed simply weeks back, with issues such as E.U. fishing rights in U.K. waters proving to be a sticking point and Johnson warning Brits that they should get ready for no deal.
Reuters reported this week that E.U. negotiators were prepared to cut the value of its fish catch in British waters by about 25%, but Britain desired a 30-35% reduction. Meanwhile, the U.K. wishes to limit E.U. gain access to over three years, while the E.U. wants a six-year timeframe. Von Der Leyen said that a five-and-a-half-year timeline had been established, however other parts of the deal were not right away readily available.
But after dealing with the remaining fair-competition and practically all fisheries issues on Wednesday, mediators combed through numerous pages of legal text that ought to become the plan for a post-Brexit relationship.
The information is likely to be scrutinized and extensively debated ahead of its ratification in London and from European countries. It will stay to be seen if key Eurosceptics in Johnson’s Conservative Party will accept it.
But Nigel Farage, among the architects of the original Brexit referendum, declared triumph ahead of the statement – — even as he expressed possible appointments about the details of the accord.
“On the big things, the war is over,” he said.
In spite of the breakthrough, key elements of the future relationship between the 27-nation bloc and its former member remain uncertain. But it leaves the mutually dependent but often fractious U.K.-E.U. relationship on a much more strong footing than a disruptive no-deal split.
Johnson will now declare to have provided on the guarantee that won him a resounding election success a year ago: “Get Brexit Done.”
Over a previous couple of days, Johnson and von der Leyen have been drawn more and more into the talks, with Johnson jetting over to Brussels previously this month to assist break the deadlock.
Rumors of a pre-Christmas trade offer emerged in current days based upon development on the primary exceptional issues: fishing, fair competitors, and resolution of future disagreements.
In their press conferences, both leaders revealed hope of a continuing relationship between Europe and the U.K., with Johnson hoping that it might in fact result in more trade from British businesses in Europe, rather than less as many have expected.