September 2021

What Is A Pared Down Free Trade Agreement

During talks between British and Irish leaders Boris Johnson and Leo Varadkar, steps were taken to divert attention from a large-scale withdrawal agreement and instead towards a simpler free trade agreement. „Sky News said the offer to move away from a fully educated withdrawal agreement – and instead focus on a more limited free trade agreement (FTA) – was part of the role Prime Minister Boris Johnson presented to his Irish counterpart Leo Varadkar during Thursday`s talks.“ Last week, Johnson presented his new Brexit plan, which dealt with a general legal framework for cross-border trade. Under its plan, Northern Ireland would leave the EU customs union with the rest of the UK after the end of the transition period, albeit with some sort of regulatory control of goods crossing the Irish Sea from the island of Ireland to the six counties. In particular, the FTA proposal provides for a „lowered free trade agreement“ to end the Brexit impasse and secure a divorce treaty with the European Union by the scheduled date of 31 October, Sky News reported on Thursday, citing sources in Brussels. According to the report, Prime Minister Boris Johnson sent the offer, focused on more limited free trade (FTA), to Irish Prime Minister Leo Varadkar during talks on Thursday. According to well-placed sources in Brussels, Britain is proposing a step towards a „lean free trade agreement“ to end the Brexit deadlock and reach an agreement by the end of October. While a free trade agreement will not solve all the problems that challenge the UK`s existing proposals, insiders said it was a „cleaner and simpler“ approach that could serve as the basis for a broader agreement. (Reuters) – The UK is proposing a „lean“ free trade agreement to reach a deal by the end of October, Sky News reported on Thursday, citing sources. Johnson`s new proposal is coming, as there are only a few weeks left before the Brexit date of 31 October. Despite his determination to withdraw the country from the bloc, Parliament has forced him to ask for an extension if no withdrawal agreement is reached before 19 October.

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