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Britain finally closes Brexit on Thursday at midnight. Then, after a transitional phase of eleven months since leaving the European Union, membership of the EU internal market and the customs union will also end.
8.30 am, December 31, 2020
Britain’s Parliament approved the post-Brexit trade pact between the UK and the EU on Wednesday. Queen Elizabeth II passed the ratification law on Thursday night and put it into effect.
The deal that Prime Minister Boris Johnson agreed with the EU on Christmas Eve after lengthy negotiations is aimed at avoiding a break with the international community. At midnight on January 1, the UK will leave the EU after the transition period is over.
The most important point of the agreement is that no tariffs or quantity restrictions will be applied to trade in goods.. In addition, the nearly 1,250-page contract regulates many other issues, including fisheries and cooperation on energy, transport, justice and police.
Still, there are big changes: In future, controls will be necessary at the borders because the rules have to be checked, even for agricultural products. For citizens, the ability to simply move is over. Visa-free travel will also be time-limited in the future. The UK is also pulling out of the Erasmus student exchange program. The EU Parliament has yet to approve the pact.
