European Union and the United Kingdom have struck a post-Brexit trade deal, after months of negotiations over future business rules, just a week before the deadline. The British government has announced that the deal is done. British Prime Minister Boris Johnson declared that they have completed the biggest deal yet worth 668 billion pound a year. He said it will protect jobs across this country and enable UK goods to be sold without tariffs, without quotas in the EU market. Mr Johnson said it is a good deal for the whole of Europe. The Britain’s Parliament is set to vote 30th of this month on the deal. European Commission president Ursula von der Leyen said this was a long and winding road but we have got a good deal to show for it. She said the deal was fair and balanced and the UK remains a trusted partner. Once ratified by EU leaders, the European parliament, and the UK government, the agreement will ensure Britain and the 27-nation bloc can continue to trade in goods without tariffs or quotas after the UK breaks fully free of the EU on 1st of next month. The UK is set to exit EU trading rules by 31st of this month – a year after officially leaving the bloc.
CS SURBHI SAXENA
Surbhi Saxena edits the daily Current Affairs News.
The author is qualified member of The Institute of Company Secretaries of India (ICSI).