The agreement between the UK and the EU is a topic that has been making headlines for years, and even more so in recent months. As a professional, it is important to understand the significance of this agreement and how it affects both the UK and the EU.
First and foremost, the agreement between the UK and the EU is a trade deal that outlines the terms of their future relationship. The UK officially left the EU on January 31, 2020, and the transition period ended on December 31, 2020. This means that the UK is no longer a member of the EU, and the two entities must negotiate a new agreement on trade and other areas of cooperation.
The negotiations between the UK and the EU were complex and often contentious, but a deal was eventually reached on December 24, 2020. The agreement covers a wide range of issues, including trade in goods and services, fishing rights, and cooperation in areas such as security and law enforcement.
One of the most contentious issues in the negotiations was fishing. The UK is a major fishing nation, and many British fishermen wanted the government to take back control of their waters. The EU, however, wanted to maintain access to these waters. The final agreement allows the UK to gradually increase its control over its waters over a period of five and a half years, but EU fishermen will still have some access to these waters during this time.
The agreement also includes provisions for trade in goods and services. The UK and the EU have agreed to a zero-tariff and zero-quota deal, which means that there will be no taxes or limits on the amount of goods that can be traded between the two entities. This is good news for businesses on both sides of the Channel, as it will ensure that trade can continue without major disruptions.
In addition, the agreement includes provisions for cooperation in areas such as security and law enforcement. The UK will no longer be a member of the EU`s law enforcement agencies, such as Europol, but the two entities have agreed to continue sharing information and cooperating on issues such as terrorism, organized crime, and cybersecurity.
Overall, the agreement between the UK and the EU is a significant milestone in their relationship. It lays the groundwork for future cooperation and trade between the two entities, but there will undoubtedly be challenges and disagreements in the years to come. As a professional, it is important to stay up-to-date on developments related to this agreement, as they will likely have significant implications for businesses and individuals on both sides of the Channel.