“Brexit is at its final stage”, says the government officer at BBC News. Some progress has been made, however, other areas cause tension such as the fishing field and regulations on workers’ rights, environmental protection, and state aid.
The UK government stated to follow their duties toward businesses and citizens to accomplish their promises. More importantly, the actual government is aiming to take the best decisions to allow recovery and economic opportunities for the UK.
To keep these promises and send a positive signal, the UK has officially signed the first major post-Brexit deal with Japan. The two countries have signed a free trade agreement, which is the UK’s first deal as an independent nation. The UK – Japan Comprehensive Economic Partnership Agreement was signed on October 23rd by International Trade Secretary Liz Truss and Japan’s Foreign Minister Motegi Toshimitsu in Tokyo. This agreement will benefit both countries in terms of digital and data, financial services, food and drinks, and creative industries. For instance, the deal combines the two world’s most technologically advanced nations and therefore will shape a new global standard of digital trade. Furthermore, the estimation of profits from this deal is £ 15 billions, with long term economic benefits which are crucial to rebuild the UK after the pandemic, and reshaping the country’s economy. Meanwhile, Japan expresses its intention to support the UK to join the Trans-Pacific Partnership (one of the world’s biggest free trade areas).
What does this agreement mean for the UK? This deal will create opportunities for the UK and will help to keep up with their challenges regarding Brexit and COVID. It is a fresh and positive matter toward the challenges the UK is facing. In other words, it gives hope to the citizens and empowers the government to believe in their independence to move out from the EU. Furthermore, Britain has signed an Aviation deal with the US. The deal secures the free movement of both countries until next year.
Moving from politics and trade to circulation, Boris Johnson provided the business sector six months “Breathing Space”. The aim for it is to allow businesses to adjust to any changes agreed with Brussels. Nevertheless, a lot of issues are still going on before the transition period ends.
For instance, there is an obstacle within the fish sector linking the UK and EU. The EU has expressed their thoughts which states that, if no agreement is settled regarding the fishing right, the bloc will never sign a trade deal with the UK. What are the fishing rights and how do they affect the two blocs? UK waters represent an economic benefit for the country and the EU particularly to France, the Netherlands and Belgium. A lot of businesses have been created around those industries for years starting since the 70s. In consequence, EU losing UK waters will be a heavy blow To the European fishery sector. The UK shows its determination to break the deal with the EU Common fisheries policy and the EU is working to retain their existing right. Later today (November 17th), the negotiation between the EU and Britain is still stuck.
Moreover, there are complications with the bureaucracy of the EU, any deals proposed need to be agreed upon not only by the EU Council and European Parliament but also dozens of parliaments across the bloc and possibly the national parliaments.
The EU talks continue but no outcome of the deal is being set yet. Even with a no deal scenario, the UK seems to be fine with their new independence and resolution of unique deals and trade agreements.