Council summit: EU27 sign off on Brexit transition deal

Council summit: EU27 sign off on Brexit transition deal

British Prime Minister Theresa May said the transition period would give people and businesses time to prepare for life outside the European Union, and she welcomed the European Union green-light to future trade negotiations.

The talks on a new deal, including a proposed free trade agreement, will begin soon but Brussels does not expect detailed negotiations to start until Britain formally becomes a "third country" next March. "We've made good progress on the withdrawal agreement but also I am looking for a new dynamic in the next stage of the negotiations so that we can ensure that we do develop, that we work together to negotiate and develop that strong future economic and security partnership which I believe is in the interest of the United Kingdom and the European Union".

The European Union agreed on guidelines Friday that will govern negotiations on future relations and trade with Britain after Brexit, nearly exactly a year before the country leaves the bloc.

"As the sector hardest hit by Brexit, a time-limited transition period has been at the top of FDF's negotiation wish-list".

Negotiators on both sides believe a trade deal can be drawn up during the 21-month transition period that will come into force after 29 March 2019.

She added, "I believe we are approaching this with a spirit of cooperation, a spirit of opportunity for the future as well". He noted new talks on the border start next week.

More news: No more free reign to China: Donald Trump after announcing tariffs

The latest stage of the Brexit drama has been accompanied by a marked lack of acrimony, largely thanks to Mrs May agreeing to most of Brussels' key demands.

A solution to avoid a hard border on the island of Ireland has yet to be agreed, with the EU insisting on a "backstop" option of Northern Ireland effectively remaining in the customs union.

Donald Tusk, the president of the European Council, says the European Union has agreed on guidelines that will govern upcoming discussions over its future relations and trade links with Britain after Brexit next year.

Leo Varadkar, Ireland's prime minister, welcomed Mrs May's acceptance that a backstop plan for the border would be included in Britain's withdrawal agreement.

Russian Federation on Friday slammed Britain for encouraging European Union member states to support London over a spy poisoning row after they agreed to recall the bloc's envoy from Moscow for consultations. "I would rather have the right deal in October rather than any deal in June".

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