On Thursday evening, in what could be seen as the most transmuting trade deal in the 21st century thus far that would possibly change the landscape of an entire European economy, the United Kingdom had secured a narrow trade deal with EU Commission just less than a week before its scheduled divorce with the world’s biggest trading bloc.
Besides, in the latest flashpoint of a Brexit trade accord, the most significant agreement for Britain’s $1-trillion worth of trade with the 26 member countries of EU since the end of colonial ruling, the deal would preserve the UK’s zero-quota and zero-tariff access into European Union’s single market for its 450 million consumers, nonetheless, the parting of ways would unlikely to be a sweet endgame as a swathe of aspects of UK’s future trade relationship had yet to be hammered out.
On top of that, the newly reached accord between the leaders of Britain and EU Commission on Thursday evening, would also back the peace accord in Northern Ireland which has been a major priority for the US President-elect Joe Biden who had cautioned the UK PM earlier this month that the 1998 Good Friday Agreement must be upheld.
Notably, Ireland, the EU-member state, had said the deal which would be published soon, had preserved its interests as well as anyone could have plausibly hoped for.
PM Johnson rises arms in a thumbs-up gesture of triumph after Brexit deal
Meanwhile, as Britain came across a sizable Brexit deal more than four years after the nation had voted 52% to 48% to depart the bloc, agreeing to an accord what would prevent a garrulous divorce of its 47-year long trade relationship with the EU, voicing a jubilant tone over the deal, UK PM Johnson said after the announcement, “We have taken back control of our destiny.
People said it was impossible, but we have taken back control”. In tandem, adding that the road to a Brexit trade deal had been long and winding, the EU Commission President Ursula von der Leyen said to the reporters, “we have got a good deal to show for it... Finally, we can leave Brexit behind us and look to the future. Europe is now moving on”.