The UK`s exit from the European Union (EU) marked the end to a long-standing relationship between the two entities. However, even with Brexit finalized, several questions regarding the future relationship between the UK and the EU remain unanswered. The UK and EU have been in talks to create a future relationship agreement, which will help cement their relationship for years to come.
The UK EU Future Relationship Agreement
The UK-EU relationship agreement will focus on several key areas, including, trade, security, and governance. The UK`s objective in the agreement is to maintain a close relationship with the EU while creating a level-playing field for its industries. On the other hand, the EU`s goal is to protect its single market and ensure that the UK complies with its standards and regulations.
Trade
One of the primary areas of concern in the UK-EU future relationship agreement is trade. The EU is the UK`s most significant trading partner, and any changes to the current relationship will have a considerable impact on the UK`s economy. The UK wants to maintain access to the EU`s single market without having to follow all the EU`s rules and regulations. The EU, on the other hand, wants to ensure that the UK adheres to its standards and regulations to maintain fair competition.
Security
The UK and the EU have cooperated closely on security issues in the past. This cooperation will continue, but the UK will no longer have access to EU intelligence databases and will not participate in the European Arrest Warrant system. The UK and the EU will need to agree on a new framework for future security cooperation.
Governance
The UK and the EU need to agree on a set of rules to govern their relationship. This includes dispute resolution mechanisms, regulatory cooperation, and other administrative issues. The governance arrangements are essential to ensure that the UK and the EU can work together effectively for years to come.
Conclusion
The UK and the EU are in the process of negotiating a future relationship agreement that will define their relationship for years to come. The agreement will cover various areas, including trade, security, and governance. Both entities have different objectives and priorities, but they need to find common ground to create a mutually beneficial relationship. The UK`s departure from the EU does not end its relationship with the bloc; it merely marks the start of a new chapter, and the future relationship agreement is an essential part of this new chapter.