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The trade agreement between the European Union and the United Kingdom has been approved

MDI writes that the Council of EU Member States signed the Trade Agreement between the EU and the United Kingdom last Thursday and accepted its provisional application in writing with effect from 1 January 2021.

The agreement will be signed by both parties on Wednesday. Charles Michael, President of the Council of Europe and Ursula van der Leyen, President of the European Commission, in Brussels, on behalf of the European Union, Boris Johnson The Prime Minister, representing the United Kingdom in London, signed the document.

The temporary use of the Convention has become necessary because the treaty must be approved by the European Parliament, which is only possible in the new year. The provisional application will allow the parties to avoid the serious consequences of the interim expiration date of January 1, which will pose risks to citizens and businesses.

The United Kingdom withdrew from the EU on 31 January 2020. On the day of his departure, an interim period began until December 31, with the intention of allowing time for the two sides to agree to the terms of the system, especially a free trade agreement.

In the first talks since February, there has been a heated debate between London and the EU over a level playing field and fisheries regulation and the legal tools available to enforce and allow breach of contract if an agreement is reached.

Non-compliance with the agreement, trade between the UK and the EU will continue from January 1, i.e. next Friday, under the general rules of the World Trade Organization (WTO), which will introduce tariffs. In trade.

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Highlight: Following the agreement on the terms of future relations between the UK and the EU, British Prime Minister Boris Johnson held a press conference on December 24, 2020 at 10 Downing Street, the Prime Minister’s House in London. Johnson noted that the FDA sets the conditions for bilateral trade worth $ 660 billion a year. MTI / AP / Paul Grover