British Prime Minister Boris Johnson on Thursday described the last-minute agreement as a free trade agreement reached between the EU and Canada. A BBC report added that at first glance, the full post-Brexit text went beyond an agreement called “Canadian style”.
The post-Brexit trade agreement reached between the United Kingdom and the European Union (EU) extends beyond the EU-style “Canadian-style” agreement, the BBC said on Friday, citing a complete copy of the agreement.
The 1,246-page document covers approximately 800 pages and subtitles, the BBC said, adding that legal text pages will determine all aspects of trade between the UK and the EU.
British Prime Minister Boris Johnson on Thursday described the last-minute agreement as a free trade agreement reached between the EU and Canada, and urged Britain to continue the divisions created by the 2016 Brexit referendum.
A BBC report added that at first glance, the full post-Brexit text went beyond an agreement called “Canadian style”.
One add-on has revealed a delayed release on electric vehicles, reports the BBC. The EU wanted to provide free access only to those British vehicles made mostly of parts of Europe. That will now be put in place for more than six years, but much less than what the UK requested, the BBC reported.
There is a clear commitment not to degrade the environment, workers’ rights, and climate change from current ones and enforcement mechanisms, reports the BBC.
However, it added that there is also a joint right to “measure” the agreement if there is a future “significant difference” that could “affect trade”.
Similarly, compensation for non-compliant funding limits to companies “does not apply” in situations such as natural disasters, the BBC said. That will free up the current big EU package to fund air strikes, aerospace, climate change and electric vehicles.
Britain signed a small Brexit trading agreement with the European Union on Thursday, just seven days before it emerged from one of the world’s largest trading blocks.
The agreement will keep access to zero-tariff and British zero-quota in the single bloc market of 450 million consumers, but will not prevent economic pain and disruption for the UK or EU member states.
The UK officially left the EU on January 31 but has since been in a transition period where trade, tourism and business rules remain unchanged until the end of this year.
The British parliament will oppose and vote on the agreement on December 30, just one day before the end of the transition period.