European MEPs want more time to scrutinse Brexit trade 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.

What will the trade deal mean?

On January 1, 2021 the UK will be out of the EU Single Market and Customs Union as well as all EU policies and international agreements. That will put an end to the free movement of persons, goods, services and capital between the two sides.

Although the agreement will mean zero tariffs and quotas between both parties, customs checks and controls will apply to UK exports entering the EU.

Fianna Fáil MEP for Dublin, Barry Andrews told EuroParlRadio what it will mean for EU businesses that trade with the UK:

“It’s going to mean additional red tape and it’s going to be additional cost being passed on to consumers and again, that’s the economic logic of Brexit unfortunately.

But the agreement does contain a lot of mitigating measures e.g. a trusted trade scheme, authorised economic operators are recognised across the two parties [UK & EU], so that’s very welcome for goods manufacturers.

“The key thing to note for Irish exporters and importers is that if you are sourcing material from the UK or selling into the UK, you do have to comply with customs declarations, so that will be an extra burden on trade, there’s no doubt about it,” Andrews concluded.

Fishing issues

Meanwhile, the future conservation of fishing stocks and preservation of species will have to be well managed when it comes to negotiating future fishing quotas with the UK.

That’s the warning from Green MEP Grace O’Sullivan who was commenting on the EU-UK trade deal.

The deal will see 25% of EU boats’ fishing rights in UK waters transferred to UK fishing fleets over a transition period of five and a half years.

After that period, annual negotiations on fishing quotas for both sides will be worked out between them.

Some Irish fishers have expressed their dismay at the Brexit deal which will see a decline in the quotas of fish they will be able to catch in UK waters in the future.

“It does mean that Ireland, as a member state, will have to work with the other member states to ensure that the Irish fishers get a fair share of quotas, of stocks that are important to the economic value here in Ireland,” O’Sullivan said.