EU Chief Negotiator Michel Barnier will brief the Permanent Representatives Committee (COREPER), made up of EU ambassadors, on the deal, which was finalized on Thursday more than four years after Britain voted to leave the EU.
The agreement was concluded after months of full negotiations and just a few days before the December 31 deadline, which marks the end of the Brexit transition period.
EU leaders, the European Parliament and the UK Parliament must now approve the agreement on their own.
British lawmakers will debate the law on December 30. The opposition Labor Party has said it will support the government’s agreement.
All EU member states have signed the agreement, after which it will return to the European Parliament, where members will vote to ratify the agreement.
The European Parliament has said it is too late to hold an emergency vote before 31 December.
Instead, they intend to apply the EU-UK agreement “provisionally”, with MEPs (MEPs) formally meeting to ratify the agreement in the New Year. Parliament will meet on December 28 to discuss the agreement on Christmas Eve.
Key points in the transaction
- Zero tariffs and quotas for goods
- End of free movement, which means that British citizens will no longer have the right to work, live, study or start a business in the EU without a visa
- Border checks will apply between the UK and EU Member States
- There will be no hard border on the island of Ireland between the Republic of Ireland and Northern Ireland
- The UK will be able to further develop British fishing activities for at least 5 and a half years, during which time the European fishing communities will be protected
- A common commitment to protect the environment, to fight climate change and carbon prices
- A common commitment to the protection of social and labor rights
- Maintaining standards on fiscal transparency
- The rights of passengers and workers in the transport sector
- UK continued participation in a number of EU programs until 2027, such as Horizon Europe, subject to a financial contribution from the United Kingdom
Speaking shortly after the announcement on Thursday, British Prime Minister Boris Johnson said the deal was a “good deal” for “the whole of Europe” – one that meant “a new stability and a new certainty in what was sometimes difficult and difficult relationship. “
Echoing the nationalist rhetoric that emerged so prominently in the Brexit referendum campaign, he said: “We have taken control of our laws and our destiny … since January 1 we are out of the customs union and out of the single market; British law will be made exclusively by the British Parliament, interpreted by British judges in British courts, and the jurisdiction of the European Court of Justice will end. “
Johnson claimed that the United Kingdom had reached a “Canadian-style” trade agreement worth £ 660 billion (US $ 893 billion) and addressed the fisheries agreement – a key point of contention in the negotiations – saying that the UK Britain has regained “full control” of its waters.
European Commission President Ursula von der Leyen said the EU had reached a fair and balanced post-Brexit trade agreement, but said the bloc had mastered the negotiations.
“As we knew, in any case, if there had been a tough Brexit, it would not have been good for both sides, but it would have hit Britain harder than the European Union with all its power of 450 million citizens. And therefore, from a position of strength, we were able to present the most comprehensive agreement we have ever had, “von der Leyen told a news conference on Thursday.
“So for all Europeans, I say it’s time to leave Brexit behind – our future is made in Europe.”
Luke McGee and Kara Fox contributed to this story.