Eu Uk Agreement Summary
On Christmas Eve 2020, the United Kingdom and the European Union finally reached a trade deal. This agreement, which governs trade and other aspects of the relationship between the UK and the EU, has been the subject of much discussion and speculation. In this article, we will provide a summary of the key points of the EU-UK agreement.
The agreement covers a range of issues, including trade in goods and services, fishing rights, and cooperation on law enforcement and criminal justice. It is a comprehensive treaty, running to over 1,200 pages. However, we will focus on the main elements of the agreement.
Trade in Goods
Under the agreement, there will be no tariffs or quotas on goods traded between the UK and the EU. However, there will be new customs checks and procedures, which are likely to cause some disruption at the border. The UK will also no longer participate in the EU`s single market or customs union.
Fishing rights were one of the most contentious issues in the negotiations. Under the agreement, the UK will regain control of its waters, but EU boats will still have access to fish in those waters for a transitional period of five and a half years. After that, a new agreement will need to be negotiated. The EU has also agreed to give up 25% of its existing quota in UK waters.
The agreement does not cover trade in services to the same extent as trade in goods. There will be no automatic recognition of professional qualifications, and UK-based financial firms will no longer have automatic access to EU markets. However, the agreement does include provisions for cooperation and consultation on financial services.
Law Enforcement and Criminal Justice
The agreement includes provisions for cooperation on law enforcement and criminal justice, including the exchange of information and the extradition of suspects. However, the UK will no longer participate in the EU`s law enforcement and judicial agencies.
Overall, the EU-UK agreement represents a compromise between the two sides. It allows for continued trade between the UK and the EU, but with new customs procedures and some restrictions on services. The agreement also provides for cooperation on a range of issues, including fishing, law enforcement, and criminal justice.
While the agreement has been welcomed by some, others have criticized it for not going far enough in certain areas. However, it represents an important step in the UK`s departure from the EU and provides a framework for the future relationship between the two sides.