LONDON/BRUSSELS (UK/BELGIUM) – The country locked horns with the European Union on Thursday over the chances of forging a free trade deal. Though the bloc thinks it is unlikely, Britain is hopeful that one could be struck in September.
Talks on securing a trade agreement have reached a deadlock ever since the country left the EU in January. Each side blames the other for failing to reach a compromise before the transition period expires at the end of the year.
The arguments intensified when the EU’s negotiator Michel Barnier said Britain was not willing to break the impasse while his British counterpart David Frost said the proposals of the bloc failed to meet the Boris Johnson government’s demand to be treated as an independent country.
Both sides agree on one thing – there is no progress on the main obstacles to clinching a deal on fair trade guarantees.
In the absence of a deal to regulate flow of trade, some firms are wary of disruption and confusion at the frontier next year. This could be costly for the firms which are already reeling from the impact of the virus.
“By its current refusal to commit to conditions of open and fair competition and to a balanced agreement on fisheries, the UK makes a trade agreement – at this point – unlikely,” Barnier said in a briefing.
“The time for answers is quickly running out,” he said. “If we do not reach an agreement on our future partnership, there will be more friction.”
(Photos syndicated via Reuters)
This story has been edited by BH staff and is published from a syndicated field