Britain and the European Union moved closer to sealing a new trade deal but it was still not clear if they would succeed, the bloc’s chief executive said on Wednesday.
Britain and the EU are in the final stretch of talks to keep an estimated one trillion dollars of annual trade free of tariffs and quotas beyond Dec. 31, when the United Kingdom finally transitions out of the world’s largest trading bloc.
“I cannot tell you whether there will be a deal or not. But I can tell you that there is a path to an agreement now. The path may be very narrow but it is there,” European Commission President Ursula von der Leyen told the European Parliament.
Her relatively upbeat comments on the long-running Brexit crisis helped nudge sterling upwards, though she said two issues were still not solved.
“We have found a way forward on most issues but two issues still remain outstanding: the level playing field and fisheries,” she said. “Issues linked to governance now have largely been resolved. The next days are going to be decisive.”
The level playing field refers to EU insistence that Britain does not undercut it on environmental, labour and social standards, as well as state aid, while governance covers the resolution of disputes.
Von der Leyen said discussions about access to UK fishing waters for EU vessels were “still very difficult”.
Source : Reuters
