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What are the general lines of the economic and trade association with Great Britain presented today by the European Commission?, shortly after agreement achieved and that sets the framework for future relations between the two parties as of January 1, 2021.
Goods
The agreement ensures trade without customs duties or quotas, “for all goods that comply with the rules of origin”, which for the first time in a trade agreement.
UK companies thus maintain access to a huge single market 450 million consumers and the corresponding European in a market of 66 million British consumers.
This arrangement avoids the split in the productive chains, which would cause many problems in some sectors, such as Automotive industry.
Competition
Britain and the EU are committed to a level playing field “Maintain high levels of protection in areas such as the environment, the fight against climate change and the setting of carbon prices, social and labor rights, fiscal transparency and government subsidies.”
In the event that one of the two parties does not comply with its obligations, the possibility is given to take “Corrective measures”, such as the imposition of customs duties.
Conflict resolution
If one of the parties does not comply with the agreement, one will take care of the problem. dispute resolution mechanism, as in most commercial agreements.
Due to the resounding refusal of London, the Court of Justice of the European Union will not have the right to intervene in this procedure. A “Joint Council” will monitor whether the treaty is correctly applied and interpreted.
Fishing
The agreement stipulates that European fishermen will have access to British waters for a transitional period. 5.5 years, until June 2026.
Transport
The agreement ensures aviation, Road and rail link between the British Isles and mainland EuropeBut Britain will lose some of the benefits it enjoyed when it was a member of the single market.
The goal is not to undermine the rights of passengers, workers and transportation safety.
Programs
The UK will continue to participate in some EU programs for the 2021-27 period, such as Horizon Europe research and innovation program, as long as it contributes to your budget.
Judicial cooperation
The agreement establishes a “new framework” in police and judicial cooperation between the two parties, in particular for the fight against terrorism and cross-border crime.
This cooperation could end if the UK suspends its membership of the European Convention on Human Rights.
Foreign policy
Cooperation on foreign policy, security and defense is not covered by the agreement, because the UK did not want to negotiate these issues.
With information from ΑΠΕ-ΜΠΕ
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