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EU and UK Announce Trade Agreement – Markets News – 24 December 2020

EU and UK Announce Trade Agreement – Markets News – 24 December 2020


The EU and the UK have announced an agreement on a future post-Brexit relationship. The document emphasizes that London and Brussels have signed a “trade agreement based on zero duties and zero quotas.”

The head of the European Commission, Ursula von der Leyen, said at a press conference today that long work has finally led to a good result. According to her, the deal is in the interests of the European Union in ensuring fair competition and predictability in the field of fisheries.

The UK, for its part, has said that after Brexit it will regain control of the border, trade, judicial system and fishing waters.

At the end of 2020, the transitional period of the process of leaving the UK from the EU expires, during which the parties had to agree on the principles of further relations in various areas.

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