The Council of the European Union has formally agreed to provisionally sign-off on the EU-UK free trade agreement, pending its ratification by the European Parliament early next year.
The council today (Tuesday, December 29) adopted a decision on the signing of the EU-UK trade and cooperation Agreement and its provisional application as of January 1.
The agreement will now be signed by the two parties on December 30. European Council President Charles Michel and European Commission President Ursula von der Leyen will sign the agreement in Brussels on behalf of the EU, while Prime Minister Boris Johnson will sign in London on behalf of the UK.
The provisional nature of the agreement – at first – is to allow the European Parliament to scrutinise the deal.
EU ambassadors yesterday (Monday, December 28) approved the EU-UK Trade and Cooperation Agreement, paving the way for it to take provisional effect on January 1.
However, the European Parliament still has to vote on the agreement and MEPs are insisting they be given enough time to scrutinise the deal before they do so.
In a few days time, the UK will leave the EU Single Market and Customs Union. Its relationship with the EU will change from being a member of the bloc to that of a third country.