Page 30 - Nile Explorer Issue 12

World

BREXIT:

UK-EU Deal

at last

fter months of negotiations, the
AUK and European Union finally
agreed a deal that will define their future
relationship. British Prime Minister British Prime Minister Boris Johnson with European Commission President
Boris Johnson declared that his trade Ursula von der Leyen
deal with the European Union was done, But the U.K. wanted something in security standards required to export
while the bloc got to keep close ties with return, mainly the fishing rights in live animals and animal products to the
one of the world’s biggest economies. British waters. As talks focused in on the EU.

Last-minute haggling over fish stocks in issue of fishing rights, British negotiators Moving goods will also be eased by
the draft meant that an announcement were taken aback that the EU wasn’t keeping access for transport by road and
didn’t come until the afternoon of budging as much as it thought. by air unlimited and there are detailed
Christmas Eve. The situation became In the end, Johnson accepted a reduction commitments on how to allocate the
more frantic because of disagreements of 25 per cent on fishing, with a five- handling of air freight and passenger
over how the figures had been calculated. and-a-half-year transition period. That rights.

A Free trade agreement, this is what the means that he can say that in June There’s also a chapter on how the
EU and the UK have now agreed - a deal 2026, on the 10th anniversary of the EU and U.K. will tackle regulatory
between countries that encourages trade EU referendum, the U.K. will have full barriers, building on the World Trade
by getting rid of barriers like taxes on control of its waters. Organization trade in technical barriers
goods. The pact allows for tariffs and quota- agreement in areas like labeling and
free trade in goods, provided they meet the testing, inspection and certification
The absence of which, WTO rules would so-called rules of origin that determine of products before they are allowed on
apply, meaning, that if countries don’t how much content in a product must the market. There are sector-specific
have free trade agreements in place, be derived from a nation bound by annexes on the automotive, chemical,
they must trade according to rules set the agreement. But these can be self- pharmaceutical, organic produce and
by a global body called the World Trade certified, a boon for business that makes wine sectors, the U.K. said.
Organization (WTO), which can mean it easier to comply with the rules and
taxes on goods. therefore benefit from the deal. The chapter allows the two sides
It was always likely to come down to fish, The agreement enables both the EU to “regulate goods in the way most
appropriate for their own market,”
and even the final hours were occupied and U.K. to set their own rules on according to U.K. negotiators, but
by cod and mackerel. geographical indications, rules designed anticipates that the two sides will share
Compromises were found on one of the to protect the quality and reputation information on “dangerous and non-
longstanding sticking points: the level of foodstuffs produced in a particular compliant products.”
playing field for fair competition, or rules region. A review mechanism in the “We have also today resolved a question
to ensure neither side held a post-Brexit agreement means the two sides can that has bedeviled our politics for
advantage for companies. The U.K. knew choose to coordinate on rules at a later decades and it is up to us all together as
a deal was attainable if it backed down date. a newly and truly independent nation to
on some of its objections to the EU being In a separate agreement, the EU granted realize the immensity of this moment
able to impose tariffs if Britain doesn’t the U.K. so-called third-country and to make the most of it,” Johnson said
follow the bloc’s toughening of labor, listing, confirming the U.K. has met at a Downing Street press conference
social and environmental standards. the necessary animal health and bio- shortly after the deal was struck.

30 | The Nile Explorer 012