The European market will be open to goods coming from the UK duty-free under the current 24 December agreement, which states that London must abide by a package of obligations breach of which would lead to trade sanctions.
The text of the agreement between the United Kingdom and the European Union contains more than 1,500 pages, and because it has not been published so far, it is difficult to analyze the details.
Under this agreement, the UK can export its products without taxes or quotas to the European market, and vice versa. Exported goods will be subject to phytosanitary declarations and checks, which will add to some routine border procedures, thereby inflating the cost for companies.
The summary of the convention published by the European Commission states that duty-free exported goods must comply with the rules of origin. As a result, Britain will not be able to re-export marine products to the EU from non-EU countries.
Disputes will be the subject of Arbitration
In exchange for free access to the European market, Britain has signed a series of commitments to maintain a high level of protection in areas such as respect for the environment, combating climate change, social rights, labor law, tax transparency, and state assistance, with the aim of ensuring that fair competition conditions are maintained. If one of the parties breaches its obligations, the agreement provides for the possibility of imposing trade sanctions, according to the author.
A “partnership council” was established to ensure the proper implementation of the convention, where disputes would be the subject of Arbitration and would not be decided by the European Court of justice as they were linked to London.
The author pointed out that the agreement includes a chapter on fishing rights, which recognizes the need for European fishermen to phase out 25% of their catch in British fish-filled waters during the transition period that runs until June 2026. After the expiration of the period established under the agreement, there will be further negotiation of access to these waters.
The agreement guarantees that Britons can stay in the EU or Europeans can stay in the UK without a visa for 90 days.
At the same time, the agreement guarantees a legal framework for the continuity of road, rail and air transport as well as the rights of Europeans and Britons to benefit from social security, whether they live in the European region or in the United Kingdom.
Although all matters of defense and diplomacy remain outside the scope of the deal, where Britain retains sovereignty, the agreement lays the foundations for security cooperation.
London.. Financial centre of Europe
Does not happen the text of the convention terms that enable British companies to work in the financial sector within the European Union, especially after the loss of the passport the past is very important for the appeal, indicating that this issue will be discussed in another agreement.
Overall, the financial sector accounts for 15% of the UK’s GDP, making London the leading financial center in Europe.
Towards the return of roaming charges?
The agreement did not address some issues that are as important as trade and that require significant changes. For example, starting in January, European telephone operators will have the right to charge roaming fees for calls made from Britain, while The European regulation forbids the calls charges made from another EU country.
The author reported that Brexit caused the British and Europeans to lose a range of rights, as Europeans could no longer settle and work freely in the UK, and the opposite applies to the British in Europe.
The British were also deprived of participation in the exchange program “Erasmus”. The British Army can no longer receive the military signal from the European satellite network “Galileo”.
In order to demonstrate his country’s ability to regain control of its own destiny, prime minister Boris Johnson promised to provide his country with a new Space Network.