Brexit Agreement Ratified: What Does It Mean for the UK and the EU?
On January 1, 2021, the Brexit transition period officially ended, marking the completion of the UK`s departure from the European Union. But before the end of 2020, the UK and the EU finally reached an agreement on their future relationship, which was later ratified by both sides on December 30. This new agreement covers a wide range of areas, including trade, security, and cooperation. Let`s take a closer look at what the Brexit agreement ratified means for the UK and the EU.
One of the most important aspects of the Brexit agreement is the trade relationship between the UK and the EU. Under the new agreement, the UK and the EU will be able to trade goods without tariffs or quotas. However, some new barriers will be introduced, such as customs checks and paperwork requirements. The agreement also includes provisions on services and investment, although these are less comprehensive than those for goods. The UK will also be able to negotiate its own trade deals with other countries, which was not possible as a member of the EU.
The Brexit agreement also includes provisions on security cooperation between the UK and the EU. This includes measures to combat terrorism and serious crime, as well as cooperation on data protection and the exchange of information. However, the UK will no longer have access to certain EU databases or agencies, which may pose challenges for law enforcement.
The agreement also covers areas of cooperation beyond trade and security. For example, it includes provisions on energy, fisheries, and transport. It also establishes a framework for cooperation on research and development, education, and cultural exchanges.
What Does It Mean for the UK and the EU?
The Brexit agreement ratified brings some clarity to the UK`s future relationship with the EU, which was uncertain for many months. It also avoids a no-deal scenario, which would have had significant economic consequences for both sides. However, the UK`s departure from the EU still has far-reaching implications, particularly for trade and security. The new trade barriers will likely have an impact on businesses and consumers, and the UK will need to negotiate new trade deals with other countries. The UK`s exclusion from certain EU databases and agencies could also affect law enforcement cooperation. On the other hand, the agreement provides some reassurance to EU citizens living in the UK and UK citizens living in the EU, as their rights are protected.
Overall, the Brexit agreement ratified marks the beginning of a new chapter in the UK`s relationship with the EU. There will undoubtedly be many challenges ahead, but the agreement provides a basis for ongoing cooperation between the UK and the EU in many areas.