The UK and the EU have until October 15 to agree on a “Brexit” trade deal. Otherwise, an agreement will not be concluded, and a tough scenario of future trade relations between the parties will follow. This is stated in a statement by British Prime Minister Boris Johnson before the start of the final stage of negotiations between London and Brussels, starting on Monday in the British capital.
To launch a free trade deal between Britain and the EU in 2021, an agreement must be reached before the Council of Europe meeting scheduled for October 15.
“If we can’t reach an agreement by then, I don’t think there will be a free trade agreement between us, and we should accept that and move on,” Johnson said.
In the absence of a deal, Britain’s trade relations with the EU will continue from January 1, 2021, according to the type of agreement in force between the EU and Australia.
“I want to be clear that, as we have said from the beginning, this would be a good result for the UK,” Johnson added.
The Prime Minister stressed that the UK government’s priority is to control its laws, regulations, and fisheries: “We will have the freedom to enter into trade deals with all countries of the world. And as a result, we will thrive.”
At the same time, Britain does not refuse to continue discussing cooperation with the EU, even after the failure of negotiations. “We will be ready to find reasonable solutions to practical issues, such as flights, cargo transportation, or scientific cooperation if the EU wants it. Our doors will never close, and we will trade as friends and partners – but without a free trade agreement,” the Prime Minister explained.
The British authorities intend to “work hard” on negotiations on a trade deal with the EU, but will not compromise “on the basics of what it means to be an independent country,” the statement said.
During the previous round of negotiations, the parties were unable to reach an agreement on issues related to the fishing sector. The boundaries of fishing zones cause the parties ‘ disagreements.