World Bulletin / News Desk
The EU has approved a draft text of guidelines for future trade relations with the U.K. after Brexit.
“Decision: EU27 has adopted guidelines for the future EU-UK relations after #Brexit,” Donald Tusk, president of the European Council, broke the news on Twitter on Friday morning.
The members of the EU have now formally signed off the negotiating guidelines for the next phase of Brexit talks between the parties. They have given a green light to talks over the bloc’s future relationship with Britain for the first time.
The text lays out a limited, agreed-on transition period that will follow the Brexit date of March 29, 2019.
The transition period terms have been agreed on, said the chief EU and U.K. Brexit negotiators on Monday.
Michel Barnier said the transition period will end on Dec. 31, 2020 and the U.K. will obey EU rules and regulations until that date without any participation in the EU’s decision-making policies.
Calling the development a “decisive step,” Barnier said: “The transition will be of limited duration.”
The published guidelines state that the EU is determined “to have as close as possible a partnership with the U.K. in the future.”
This will cover “trade and economic cooperation as well as other areas, in particular the fight against terrorism and international crime, as well as security, defense and foreign policy,” according to the document.Last Mod: 23 Mart 2018, 16:47