According to the British Minister for Brexit, a comprehensive trade agreement with the European Union is available until the expiry of the British EU membership in March 2019.
David Davis, the head of the ministry coordinating the exit conditionality talks from Britain, acknowledged Wednesday at the hearing of the Brexit Committee of the Lower House in London that Britain would not be able to sign a free trade agreement with the European Union in technical terms until the official termination of the British EU membership.
According to Davis, however, this may happen in the “first nanosecond” after the British exit. The nanosecond is one billionth of a second.
David Davis confirmed at the Commission’s hearing that the UK government is aiming for a comprehensive free trade agreement with the EU to provide duty-free trade.
The Brexit affirms that London and EU free trade negotiations, given the British EU membership, are based on a completely identical regulatory system and based on the already established bilateral trade volume of 600 billion euros a year.
According to Davis, the free trade agreement set by the British government is a completely different way than other similar conventions, and therefore the warnings that the limited time frame for the exit negotiations will not be sufficient for the FTA to be drawn up can not be taken into account.
Sir Ivan Rogers, United Kingdom’s previous ambassador to the United States, who unexpectedly resigned his position this year, sharply criticizing the British government’s Brexit strategy, in its resolution known before the end of the day did not rule out negotiations on future conditions for British trade with the EU based on the experience of similar conventions, they may be prolonged until the mid-2020s.
But Prime Minister Theresa May also stressed that the free trade agreement set by London can not be compared to the patterns followed by other countries, given the existing framework.
May stated in his briefing on the Brexit negotiations last week that his government is proposing a unique and ambitious economic partnership for the European Union that reflects the unprecedented situation that both partners will start with these same rules and regulators.
Great Britain maintains its full commitment to bilateral free trade, and will require a framework that will allow for alignment of rules with the EU, but the derogation from these rules at which Britain sees it necessary – said the British head of government.
According to Theresa May, however, London is rejecting a new relationship with the EU based on membership in the European Economic Area (EEA), as EEA membership would mean that Britain would have to accept it automatically and completely the new EU rules, which would have little impact after the end of EU membership, however.
The British Government does not seek to establish a free trade agreement with Canada that Canada would have to negotiate with the EU, as it would create barriers to mutual market access that would not benefit the British or the EU economy, “the British Prime Minister said in his minstrel speech .
Source: MTI / Picture: mno.hu /