EU Facing Brexit to Soon Approve Trade Agreement with UK

[Asia Economy Reporter Lee Chun-hee] The 27 member countries of the European Union (EU) have begun reviewing the trade agreement with the United Kingdom, which was finalized on the 24th, and it is reported that they will approve it within a few days.

According to foreign media on the 26th, EU member state ambassadors held a meeting in Brussels, Belgium, on the 25th, the day after the agreement, to evaluate and review the draft agreement.

Michel Barnier, the EU's chief negotiator, explained the detailed contents of the 1,250-page agreement.

It is reported that the ambassadors did not raise any objections to the agreement. They also approved a letter to be sent to the European Parliament stating that member states will soon decide on the provisional application of the agreement.

Earlier, the EU and the UK finalized negotiations on their future relationship, including a free trade agreement, on the 24th.

Both sides agreed to complete negotiations within the transition period set until the end of the year following Brexit (the UK's withdrawal from the EU) at the end of January, and have been conducting talks for nine months.

During the transition period, everything remains as it was before Brexit, and from the next month’s 1st, when the period ends, substantial changes due to Brexit will take effect.

The EU will provisionally apply the agreement on the 1st of next month and complete ratification by the European Parliament and member states early next year.

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