UK, EU to inch closer to final stage of 'post-Brexit' deal | 5 points
The UK government is eager to resolve trade issues and break the political deadlock ahead of the 25th anniversary of Northern Ireland's 1998 Good Friday peace accord in April.
The United Kingdom and the European Union have moved closer to negotiating 'post-Brexit' trade deals, which includes agreements on customs, tariffs, state aid and taxation, sanitary checks, and governance.
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The UK government is eager to resolve trade issues and break the political deadlock ahead of the 25th anniversary of Northern Ireland's 1998 Good Friday peace accord in April. It is counting on an agreement with the EU to ease checks and entice unionists back into government.
Five things in which UK has to make a deal
- Northern Ireland after Brexit: UK wants to provide subsidy controls and tax breaks in the region but this no longer allows any EU state aid or VAT rules. A UK compromise on state aid would limit the UK's ability to provide financial support to the region, making an agreement more difficult.
- Another topic to discuss is a deal on British steel arriving in Northern Ireland, which the EU's chief negotiator sounded optimistic about last week. The region has a well-known shipbuilding tradition - the Titanic was built in Belfast.
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- European Court of Justice (ECJ): The UK wants to take over the role of the combined courts and create its own independent arbitration panel, even though this would be a red line for the EU. A compromise could be a combination of an arbitration body with the ECJ still overseeing EU law.
- Livestock and agrifoods: The EU must conduct physical checks at the Irish Sea border to prevent disease spread in their markets. This comes into effect because the UK no longer follows the EU's trade regulations. A deal on this is unlikely because the EU needs to be confident that if a crisis occurs, it will be prepared with snapback mechanisms.
- There are other businesses ranging from pet passports to the electricity market. Status of Gibraltar - a British overseas territory - has also been at stake from when the region sticked to stay with the EU despite the UK’s exit.
(With inputs from agencies)
