Ambassadors of the 27 members approve the provisional application of the trade agreement. Ratification will follow later.
The deal on the controversial fishery is also ready to go
Following the agreement with Great Britain, on Monday the European Union initiated the preliminary application of the Brexit trade pact from January 1st. The ambassadors of the 27 member states tentatively said yes to the proposal.
Ratification will follow later
The provisional application is necessary because there is no time for ratification by the European Parliament before the end of the year – it should be made up after the New Year. The transition period after the UK leaves the EU in January expires on December 31, and Great Britain is also leaving the internal market and the customs union. The contract is intended to avoid a severe economic break. On the British side, Parliament is due to vote on December 30th.
Agreement only at Christmas
The negotiators on both sides had only agreed on the almost 1,250-page agreement at Christmas. The most important point is to ensure unlimited trade in goods without customs duties. In addition, the contract regulates, among other things, cooperation in the fields of fishing, air and road transport, energy supply, the fight against crime and social security.
Goods controls are coming
Despite the agreement, the economic relations between the two sides will be far less close in the future than before. For example, goods controls are required at the borders, among other things because evidence of compliance with EU food safety rules and compliance with product standards has to be provided.
