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UK And EU Call On One Another To Compromise On Brexit Trade Deal


12/21/2020


UK And EU Call On One Another To Compromise On Brexit Trade Deal
It is incumbent upon the European Union to change its position to allow for a chance for achieving a Brexit trade agreement, Britain insisted on Sunday, which drew a quick response from the trade negotiator of the EU defending the bloc’s right to protect its interests.
 
It is expected that the negotiations will continue through Monday, going beyond a Sunday deadline set previously by the European Parliament. The negotiations were described as "difficult" because of the "significant differences" in position.
 
Calls on each other to secure a trade deal prior to the exit of the UK form the EU in less than two weeks are being given by both sides so that the annual trade in goods remain protected from tariffs and quotas. But a lack of compromise by both sides has prevented a deal being made.
 
The fishing rights of the EU in British waters and creating a so-called level playing field by providing competition rules for both sides have so far proved to be the main sticking blocks in the two sides arriving at a deal.
 
The bloc should drop its "unreasonable demands", said the British health minister Matt Hancock on Sunday morning.
 
"We want these talks to reach a positive conclusion, of course I want a deal, I think everybody wants a deal," Hancock told Sky News. "Unfortunately, the EU have put in some unreasonable demands. ... I am sure a deal can be done but obviously it needs movement on the EU side."
 
Currently the UK is in a transition period since it formally left the EU on January 31 this year.  the transition period is set to come to an end on December 31 this year when the UK will no longer be attached to the single market and the single customs union of the EU.
 
Talks with UK counterpart David Frost were at a "crucial" point on Sunday, EU negotiator Michel Barnier said. "The EU remains committed to a fair, reciprocal and balanced agreement. We respect the sovereignty of the UK. And we expect the same," he said.
 
"Both the EU and the UK must have the right to set their own laws and control their own waters. And we should both be able to act when our interests are at stake."
 
The EU wants to retain the power of imposing trade barriers on eth UK if the later changes its regulations in the future and trues to implement policies and practices that undercut the 450 million strong market of the EU.
 
The UK in turn wants to have the rights to set its own regulations as well as a to be allowed to respond to any changes made in the rules by the EU.
 
With regards to fisheries, the EU is demanding that it should have the right to retaliate against the UK by reducing access of the country to EU markets if the UK tries to squeeze out EU fishing vessels form its waters. While claiming that it will become an independent coastal state from 2021 and will exercise complete control over its waters, London also says that it is open to discussions for a potential period of transition for EU fishing vessels in British waters. 
 
(Source:www.businessworld.in)


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