UK Prime Minister: "Trade Negotiation Deadline with EU is Next Month 15th"

"If No Agreement, FTA Must Be Signed"... Willingness to Accept No-Deal
8th Round Negotiations on the 8th, but Low Possibility of Agreement

Boris Johnson, Prime Minister of the United Kingdom [Image source=Reuters Yonhap News]

[Asia Economy Reporter Jeong Hyunjin] British Prime Minister Boris Johnson is expected to set the deadline for the European Union (EU) and Brexit (the UK's withdrawal from the EU) trade negotiations as October 15 next month, according to BBC and other media on the 6th (local time). This is interpreted as a declaration of willingness to accept a No Deal scenario as both sides have failed to narrow their differences and want to fix the deadline.

According to reports, Prime Minister Johnson will soon enter the final stage of negotiations with the EU and state that an agreement must be reached by October 15 in order to implement it from the end of the year, adding, "It makes no sense to think about anything beyond that point." He plans to say, "If we do not reach an agreement by then, a Free Trade Agreement (FTA) with the EU cannot be concluded, and we must accept and move on."

Earlier, Michel Barnier, the EU's chief Brexit negotiator, had set the deadline for trade negotiations to be applied from next year as the end of October. The UK officially left the EU on January 31 and decided to conduct future relationship negotiations until the end of this year without immediate policy changes for a smooth transition. The 8th round of future relationship negotiations is scheduled to begin on the 8th, but it is unlikely that an agreement will be reached as key issues remain unresolved.

Johnson plans to explain that a "No Deal" means "having a trade agreement like Australia with the EU" and that it follows the rules set by the World Trade Organization (WTO). In the Australian model, trade relations are basically based on the WTO system, with separate agreements made in important areas such as aviation.

Johnson is expected to say, "We are fully prepared at borders and ports," adding, "We will have complete control over laws, regulations, and fishing grounds. We have the freedom to negotiate trade with all countries worldwide, and as a result, we will prosper strongly." He will also state, "The UK is always ready to consult with the EU," and "Even if negotiations are not concluded, we will seek reasonable agreements on practical issues such as aviation, large trucks, and scientific cooperation."

This content was produced with the assistance of AI translation services.