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Almost a year after Brexit, the UK and the EU agreed to a free trade deal on Christmas Eve. The 2,000-page deal is worth £ 660 billion (approximately SEK 7.4 trillion) per year. In the coming days, the content of the deal will be clarified when the deal is announced.
But it is already clear that neither import quotas nor tariffs will be introduced between the UK and the EU. However, the agreement contains a clause that enables customs duties if one party believes that the other is dumping prices. Goods produced in the UK will also need to meet EU standards.
Great Britain introduces a new immigration system which means the end of free movement between the country and the EU. Therefore, the British no longer automatically have the right to settle within the Union. The opposite is true for citizens of the Member States. For stays longer than 90 days, the visa is mandatory.
The issue of fishing has been a major obstacle in the negotiations between the parties. When Great Britain leaves the Union and the Common Fisheries Policy, member states can be excluded from the country’s fishing waters. Under the agreement, the EU’s share of fisheries will be reduced by 25 percent during a transition phase of five and a half years, writes The Guardian.
Formally, the agreement is not closed before the British Parliament passed it on December 30, and after all 27 EU member states agreed. Once the European Parliament and the European Council have given the green light, the agreement will officially enter into force. But as of January 1, the agreement will be applied provisionally.
The EU chief negotiator will brief the ambassadors of the member states on the deal on Christmas Day.
Read more:
Pia Gripenberg: Some stumbling blocks remain before the agreement can be implemented
Löfven: With a Brexit deal, we are much better equipped
Nicola Sturgeon: No deal can make up for Brexit
