EU-Britain Trade Agreement to Become Priority After Brexit: Barnier

EU’s chief Brexit negotiator Michael Barnier is set to make finalizing a trade agreement between the EU and Britain after Brexit his priority. As per the current deadline, Britain is slated to leave the EU latest by January 31, 2020 while the transition period will finish by the end of next year.

In a meeting with MEPs, Barnier expressed concern that the 11 months from the Brexit deadline till the end of the transition period may leave very little time to negotiate a trade agreement, but he will strive to get the deal in place by the end of 2020. In addition, negotiations on secondary issues such as road freight and aircraft landing and takeoff rights could take longer and are expected to be outside the scope of the trade agreement.

The EU may have to resort to contingency measures to avoid any potential economic disruption in case discussions drag on beyond 2020. In addition to trade, Barnier also highlighted security and defense as other pressing areas of concern that need to be discussed and finalized after Brexit.

Check out our free forex signals
Follow the top economic events on FX Leaders economic calendar
Trade better, discover more Forex Trading Strategies
ABOUT THE AUTHOR See More
Arslan Butt
Index & Commodity Analyst
Arslan Butt serves as the Lead Commodities and Indices Analyst, bringing a wealth of expertise to the field. With an MBA in Behavioral Finance and active progress towards a Ph.D., Arslan possesses a deep understanding of market dynamics.His professional journey includes a significant role as a senior analyst at a leading brokerage firm, complementing his extensive experience as a market analyst and day trader. Adept in educating others, Arslan has a commendable track record as an instructor and public speaker.His incisive analyses, particularly within the realms of cryptocurrency and forex markets, are showcased across esteemed financial publications such as ForexCrunch, InsideBitcoins, and EconomyWatch, solidifying his reputation in the financial community.
Related Articles
Comments
0 0 votes
Article Rating
Subscribe
Notify of
0 Comments
Oldest
Newest Most Voted
Inline Feedbacks
View all comments