If the desired results are not obtained, Britain is ready at the beginning of the summer to conclude negotiations with the EU regarding trade relations. Such information was provided to Sky TV channel with reference to a document describing the conditions of the negotiations.
“The parties will have enough time to form an agreement by June,” the document says.
Sky notes that if Britain fails to agree with Brussels, then trade relations will be regulated by WTO rules, as is the case, for example, with Australia.
For London, one of the main conditions under which it will be possible to reach an agreement is non-interference in the internal politics of the state.
Britain also notes that the transition period will not be extended further and will end at the end of the year. During this period the parties will develop new terms of the relationship. On January 1, 2021, Britain will completely withdraw from the European market and the customs union.
Great Britain left the EU on February 1, 2020. Voting to maintain membership in the union was held 3.5 years ago.
Now the country is in transition. Prime Minister Johnson noted that he did not intend to delay the process. This period is necessary to form the conditions for future relations with the EU.
During the transition period, Britain will remain part of the customs union and market. The possibility of free movement within the eurozone will also remain. However, the country will lose its seat in the European Parliament and the European Commission. Britain will be obliged to adhere to general rules, but will not be able to influence the situation.
Now the most pressing issue is a trade agreement between Britain and the EU. If it is not reached, relations will be built on the basis of the provisions of the WTO.
The material was prepared with the participation of Katya Wilson,
a leading analyst of the brokerage company UFT Group