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At the last minute, it was announced that a compromise on the trade deal had been reached as a result of today’s talks between British Prime Minister Boris Johnson and the President of the European Commission, Ursula von der Leyen.
Ursula von der Leyen, president of the European Commission, the executive body of the European Union, said that “the competition rules will be fair and will remain so.” Leyen emphasized that effective tools are accepted and will come into play in the event of a competition interruption.
Commission President Leyen announced that the UK and the EU will continue to cooperate in areas of mutual concern such as climate change, energy, security and transport.
Noting that the UK and the European Union will continue shoulder to shoulder, Leyen said the whole debate revolves around sovereignty.
“We have to ask what sovereignty means in the 21st century,” Leyen continued, “it’s about lifting each other up, rather than being alone in times of crisis. And the European Union is showing how this will work in practice.
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NON-EXTRAORDINARY PLAN FOR SCOTLAND
Scottish Prime Minister Nicola Sturgeon’s first reaction claimed that Brexit was carried out against the will of Scotland. “There is no deal to make up for what Brexit has taken away from us. It is time to shape our future as an independent European nation,” Sturgeon said.
11 MONTH PROCESS COMPLETED
Britain left the European Union on January 31, 2020. However, in trade cooperation, the process did not work this way and cooperation continued for another 11 months. With the end of the process, the parties had to decide and approve the new rules.
WHAT DOES THE SETTLEMENT COVER?
Commenting after the deal, Prime Minister Boris Johnson notes in his speech:
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* Everything promised to the British public in the 2016 referendum and last year’s elections was fulfilled through this agreement.
* We regain control of our money, borders, laws, commerce and the waters where we fish.
* The deal is great news for families and businesses everywhere in Britain. We signed the first free trade agreement with the EU so far, based on zero customs duties and zero quotas.
* This is the largest bilateral trade agreement signed by both parties to date, covering a trade value of £ 668 billion as of 2019.
* We have been successful on all of our key red lines associated with the recovery of British sovereignty.
* The Court of Justice of the European Communities will have no role.
Britain’s chief Brexit negotiator David Frost
TRADE FREE OF CUSTOMS TAXES
The EU Commission published the draft “Trade and Cooperation Agreement”, which was agreed today with Great Britain, which resigned from membership. Consequently, a new free trade agreement will be signed between the parties.
The agreement will cover areas such as investment, competition, public subsidies, taxes, transportation, energy, fishing, data security and social security, as well as goods and services.
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No customs fees or taxes will be applied to goods that comply with the rules of origin.
The parties will protect the environment and prioritize the fight against climate change. Social and labor rights will be protected.
A binding dispute resolution mechanism will be established. Although this mechanism will guarantee that competition takes place in fair and equitable conditions, it will avoid anti-competitive behavior.
Fish stocks in the territorial waters of the EU and the UK will be managed jointly. England will be able to improve fishing activities. The activities of European fishermen will continue.
Air, land, rail and sea transportation will continue. The EU and the UK will compete fairly in transport.
The social security rights of EU and UK citizens will be coordinated.
The UK may participate in EU research programs if it contributes financially.
In particular, a framework will be established for security and judicial cooperation against cross-border crime and terrorism.
By establishing a Joint Council between the EU and the UK, it will be determined how the agreement will be interpreted and implemented.
After this stage, the agreement must be approved by the British Parliament, the European Council and the European Parliament (EP).
