EU-UK Sign Agreement to Improve Relations in First Post-Brexit Meeting

Source
Korea Economic Daily

Summary

  • The United Kingdom and the European Union announced an agreement to improve relations in their first summit since Brexit.
  • The agreement facilitates the export and import of UK food and extends fishing rights until 2038, indicating positive changes in trade and security sectors.
  • Prime Minister Starmer explained that the agreement contributes to the UK's economic growth and return to the global stage.

Simplification of Food and Beverage Export/Import Procedures and Guarantee of Fishing Rights

Extension of EU Trawler Fishing Rights and Simplification of Immigration Procedures

The United Kingdom and the European Union (EU) held their first summit on the 19th (local time) since the UK left the EU in 2020 and announced an agreement to reset relations between the two sides.

According to CNBC on the 19th, UK officials stated that the signing of this agreement, which addresses various issues such as security, energy, trade, travel, and fishing, is a "historic day" and opens a new chapter in the tense relations between the two sides post-Brexit.

This agreement has made it easier for the UK to export and import food and beverages. Regular inspections for some animal and plant products have been completely abolished, allowing products like British sausages and burgers to be sold in the EU again.

In the security and defense sector, the UK defense industry can participate in the EU's proposed $200 billion "European Security Action Defense Fund." Additionally, the fishing rights of EU trawlers in UK waters have been extended until 2038.

UK travelers can use 'e-gates' at airports within the EU instead of having their passports checked directly when traveling to the European continent.

However, some issues, including the "Youth Experience Scheme," which allows young people to work and travel freely in Europe, have not been fully resolved.

UK Prime Minister Keir Starmer invited Ursula von der Leyen, President of the European Commission, and senior EU officials to London for the UK-EU summit.

After the summit, President von der Leyen said at a press conference that the agreement is "historic" and that "the message to the world is that the people of Europe must unite."

Starmer said the agreement is a "win-win" for both sides. "The UK is back on the world stage, cooperating with partners, reaching agreements for economic growth, and putting more money in workers' pockets," he said.

As the Trump administration recently shifted to isolationism on issues significantly affecting Europe, such as the Ukraine war, pressure has increased for the UK and the EU to reach an agreement. However, with growing public support for the Reform Party, led by Nigel Farage, which spearheaded Brexit, the UK government is in a difficult position.

One of the biggest stumbling blocks before the UK-EU summit was the issue of EU vessels' fishing rights in UK waters. The post-Brexit fishing rights agreement is set to expire in 2026, and France and Denmark have demanded an extension of these rights.

The challenge for the Labour government was how to agree on these thorny issues without appearing to return to the pre-Brexit partnership.

The UK government claimed that its stance on Brexit has not changed. This agreement meets the "red lines set out in the government manifesto, namely no return to the single market, no return to the customs union, and no return to freedom of movement."

Guest reporter Kim Jung-ah kja@hankyung.com

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Korea Economic Daily

hankyung@bloomingbit.ioThe Korea Economic Daily Global is a digital media where latest news on Korean companies, industries, and financial markets.
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