The UK and the EU have finally agreed on a trade deal after months of negotiation. The deal has come into effect on January 1, 2021, after the UK officially left the EU. The text of the agreement has now been published, and the world is scrambling to analyze its contents.
The UK and the EU have been negotiating the trade agreement since the UK voted to leave the EU in 2016. It has been a long and complicated process, with both sides making concessions and compromises. The agreement covers a wide range of issues, including trade, security, and fisheries, among others.
One of the most significant aspects of the agreement is the trade deal itself. The agreement provides for tariff-free and quota-free trade between the UK and the EU in goods. It also includes provisions on services, including financial services, which will be subject to regulatory cooperation.
The agreement also addresses issues related to the movement of people between the UK and the EU. The agreement provides for visa-free travel for short-term visits, as well as provisions on residency, social security, and healthcare.
Another important aspect of the agreement is the section on fisheries. The agreement provides for a five-and-a-half-year transition period, during which the UK will gradually take back control of its waters. After the transition period ends, the UK will have full control of its waters, and EU fishing vessels will have to seek permission to fish in UK waters.
Overall, the agreement is a significant milestone in the history of the UK and the EU. It provides a framework for their future relationship and provides certainty for businesses and individuals on both sides of the Channel. The full text of the agreement is over 1,200 pages long, and it will take some time for experts to fully digest its contents. However, it is clear that this agreement marks the start of a new era in the relationship between the UK and the EU.