Ottawa, Downing Street agree to $27 billion post-Brexit rollover trade deal



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Ottawa, Downing Street agree to $27 billion post-Brexit rollover trade deal

On Saturday, British Prime Minister Boris Johnson had secured a $27 billion post-Brexit rollover trade deal with his Canadian counterpart Justine Trudeau following a bilateral online conversation which in effect would streamline a flow of billions of dollars in goods and services between Canada and Britain following a December 31 Brexit deadline, while the United Kingdom had also agreed to resume negotiations over a slated trade agreement with Ottawa as early as by next year.

In point of fact, amid growing uncertainties over a post-Brexit trade deal with EU, Britain had been negotiating a number of rollover bilateral deals to continue trades in a post-Brexit United Kingdom, while many of them had simply replaced the trade legislations of the bloc.

Canada, Britain reach accord on post-Brexit rollover trade deal

Apart from that, as beforementioned the UK PM Boris Johnson had joined his Canadian counterpart Justin Trudeau and their trade ministers in a conference call on Saturday to rubber stamp the deal what analysts said could have cemented the way for further agreements covering a swathe of sectors ranging from small businesses to digital trade to environment and women empowerment.

Besides, shortly after the deal, UK’s International Trade Secretary, Liz Truss was quoted saying in a statement that the Saturday’s accord with Britain’s fifth-largest trade partner after the United States, China, Mexico and Japan, had fortified thousands of jobs alongside over £20 billion worth of trade, while his Canadian counterpart Mary Ng said, “We do want an ambitious, high level comprehensive trade agreement with the UK,” hinting that the United Kingdom’s North American ally was looking to a EU-style trade deal with tariff reductions and provisions for environment and labour.

In tandem, citing a cautiously optimistic tone over the deal, Canadian PM Trudeau was quoted saying that the accord would be subjected to further legal checks adding, “This is a good moment”.

Albeit, a post-Brexit rollover trade deal between Canada and Britain must pass through the Canadian Parliament in order to come into effect.