The transition period, during which London and the EU will have to agree in detail the details of future cooperation and conclude a new trade agreement, should last until 31 December 2020.
LONDON -The government of British Prime Minister Boris Johnson is not going to ask the EU to extend the terms of the transition period after “Brexit.” The official representative of the head of the Cabinet stated on Monday.
“The British government will not extend the transition period, which will begin after the entry into force of the “Brexit” agreement,” he said.
The post-“Brexit” transition period, during which London and the EU will have to agree in detail on the details of future cooperation and conclude a new trade agreement, is due to last until December 31, 2020. Under the terms of the “Brexit” agreement reached by the parties on October 17, the transition period can be extended once for a period not exceeding two years. As many British political observers believe, it may take many years to conclude a free trade agreement between the UK and the EU. Even if Boris Johnson’s Conservative Party wins the early December elections to the British Parliament, it will be extremely difficult for the Prime Minister to finish negotiations with the EU in a year.