EU ratifies post-Brexit trade agreement, British PM Boris Johnson calls it final step in long journey

Apr 29, 2021, 12:37 IST

UK Prime Minister Boris Johnson said that the trade deal provides stability to UK's new relationship with the EU as vital trading partners, close allies and sovereign equals. 

EU ratifies post-Brexit trade deal
EU ratifies post-Brexit trade deal

The European Parliament on April 27, 2021 ratified the post-Brexit trade deal between the European Union and the United Kingdom with an overwhelming majority. This is significant as this clears the last hurdle towards the ratification of the trade deal, which will ensure the continuation of tariff and quota-free trade.

The members of the European Parliament voted to ratify the deal, with 660 votes in favour, 5 against and 32 abstentions. The Trade and Co-operation Agreement (TCA) had been sealed in December 2020 after nine months of negotiations and had been operating provisionally since January 1, 2021. 

European Parliament President David Sassoli stated that the European Parliament voted on the most far-reaching agreement the EU has ever reached with a third country. He continued by saying "this can form the foundation on which we build a new forward-looking EU-UK relationship." He also warned that the members of the EU parliament will be monitoring the implementation of the deal and will not accept any backsliding from the UK government.

European Commission president Ursula von der Leyen welcomed the result saying, "The TCA marks the foundation of a strong and close partnership with the UK. Faithful implementation is essential."

UK Prime Minister Boris Johnson stated that this was the final step in a long journey. He said that the deal provides stability to UK's new relationship with the EU as vital trading partners, close allies and sovereign equals. He highlighted that "Now is the time to look forward to the future and to building a more global Britain."

Significance

The EU's ratification of the deal brings an end to over four years of negotiations and debate and provides the framework for Britain’s new relationship with the 27-member European Union, five years after the Brexit Referendum when the British voters shocked the world by voting for Britain to leave the European Union, ending its 47-year EU membership. 

What Next?

Following ratification of the deal by the European Parliament, the EU’s 27 member states are expected to give their go-ahead to the trade deal and then the bloc will formally inform the United Kingdom and the trade agreement will be formally concluded.

European Council President Charles Michel welcomed the vote saying “it marks a major step forward in EU-UK relations and opens a new era”. He tweeted saying that EU will continue to work constructively with the UK as an important friend and partner. 

Tensions Remain 

•Despite the trade agreement, Brexit tensions remain, as, under a separate protocol, Northern Ireland remains de facto part of the EU's single market. 

•This means that goods coming from Britain to Northern Ireland will have to undergo EU checks.  

•Further, the trade agreement only covers EU-UK trade in goods, but not services and the UK economy is dominated by services, especially in sectors such as advertising, banking, insurance and legal advice. 

•Other areas not covered under the deal include foreign policy, financial services and student exchanges.

 

Sangeeta Nair is a news professional with 6+ years of experience in news, education, lifestyle, research and videos. She has a bachelors in History and Master in Mass Communication. At jagranjosh.com, she writes on Current Affairs. She can be reached at sangeeta.nair@jagrannewmedia.com.
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