Thursday, Aug 06

EU sets conditions for trade with UK

The proposed negotiation mandate involves three main chapters: economic and security partnership, as well as an institutional framework for governing future relations.
03.02.2020 - 17:45

The European Commission on Monday presented its draft negotiation mandate on the EU’s future partnership with the UK.

The UK left the bloc on Friday after being a member of the European integration for 47 years. In the upcoming 11-month transition period, the UK and the EU are meant to agree on the terms of economic cooperation.

"UK CAN'T HAVE ANYMORE BLOC'S ADVANTAGES"

“Let’s be clear and don’t forget that the best relationship with the EU is to stay a member,” Michel Barnier, the EU’s chief negotiator said at a news conference. “The UK decided to leave the single market and the customs union, so it can’t have anymore the bloc’s advantages,” he added.

In terms of economy, “the EU offers a highly ambitious trade deal with zero tariffs and quotas for all goods and services entering the single market,” Barnier explained.

It covers a wide range of sectors, including business, telecommunications, intellectual property rights and access to EU public procurements.