The United Kingdom & the European Union have until Oct 15 to agree on terms of a free trade agreement after Brexit, otherwise, both parties better abandon the talks & "move on," UK PM Boris Johnson is expected to say on Monday, according to a transcript released by his office.
"The EU have been very clear about the timetable. I am too. There needs to be an agreement with our European friends by the time of the European Council on 15 October if it's going to be in force by the end of the year. So there is no sense in thinking about timelines that go beyond that point. If we can't agree by then, then I do not see that there will be a free trade agreement between us, & we should both accept that & move on," Johnson will say.
According to the transcript, London & Brussels have now reached "the final phase" of negotiations.
In the case, if talks fail, the UK and the EU will trade under a model that the bloc has with Australia, which Johnson says will be "a good outcome" for the UK.
"We will of course always be ready to talk to our EU friends even in these circumstances. We will be ready to find sensible accommodations on practical issues such as flights, lorry transport, or scientific cooperation if the EU wants to do that. Our door will never be closed & we will trade as friends & partners - but without a free trade agreement," Johnson will say.
However, the PM stresses, that a "standard free trade agreement" remains a preference for London & that he "will be delighted" if the EU is ready to "rethink their current position & agree."
Johnson will add, "But we cannot & will not compromise on the fundamentals of what it means to be an independent country to get it".
The United Kingdom withdrew from the European Union on Jan 31. The 2 have agreed to a transition period until Dec 31 to negotiate the bilateral trade terms post-Brexit. The items they so far disagree on are regulations on fisheries & state aid.
Source Link
Picture Source :
