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The European Commission presented on Thursday (12/24) the general lines of its economic and commercial partnership with the United Kingdom, based on the agreement reached on the same day, which establishes the framework for future relations between the two parties from 1 January. 2021, when Brexit will be implemented.
Goods
The agreement ensures trade without customs duties or quotas, “for all goods that comply with the rules of origin”, which is the first time in a trade agreement.
UK companies thus maintain access to a huge single market of 450 million consumers and their European counterparts to 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 the automotive industry.
Competition
Britain and the EU are committed to a level playing field “maintaining high levels of protection in areas such as the environment, combating climate change and carbon pricing, social and labor rights, transparency taxes and government subsidies” .
In the event that one of the two parties does not comply with its obligations, it is possible to take “corrective measures”, such as the imposition of customs duties.
Conflict resolution
If one of the parties does not comply with the agreement, a dispute resolution mechanism will take care of the problem, as is the case with 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 of 5.5 years, until June 2026.
Transport
The agreement secures the British Isles’ air, road and rail links with continental Europe, but Britain will lose some of the benefits it enjoyed when it was part 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 the Horizon Europe research and innovation program, provided it contributes to its budget.
Judicial cooperation
The agreement establishes “a new framework” in police and judicial cooperation between the two parties, in particular in the fight against terrorism and cross-border crime.
This cooperation could end if the UK suspends its membership in 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.
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