This is the second agreement on post -rexite relations that London has signed with one of the major economies. In October, Britain signed a similar agreement with Japan, which largely maintains existing trade relations between the two countries.
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According to Reuters, Saturday’s agreement ensures that the movement of goods and services of $ 27 billion a year is maintained even after January 1, ie after the end of a transitional period when Britain is still following EU rules. According to Reuters, the two countries are to start negotiations on a new “tailor-made” mutual trade agreement next year. The British government claims that the interim agreement with Canada paves the way for future negotiations.
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“For Britain, this is a fantastic deal that will secure transatlantic trade with one of its closest allies. British companies export everything from electric cars to sparkling wines to Canada, and today’s agreement will ensure that trade will continue to grow stronger, “said British Prime Minister Boris Johnson in a statement. According to him, work will begin on a new agreement from the beginning of next year, which will satisfy the needs of the British economy even more.
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Negotiators are in a hurry to strengthen trade relations between Britain and other major economies due to the imminent completion of Brexit. Although Britain officially left the European Union in January this year, it continues to be governed by common EU rules in trade relations. Without a series of new bilateral agreements, trade between Britain and the rest of the world could be weakened by tariff and bureaucratic barriers.
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