British lawmakers approve post-Brexit trade deal with EU

Source: The Hindu

News: Britain’s House of Commons has voted resoundingly to approve a trade deal with the European Union paving the way for an orderly break with the European Union(EU).

Read Also : Current affairs for upsc

Facts:

Key Features of the Deal:

The new trade deal:

  • Enables the UK to continue selling goods to the EU market – the UK’s biggest trade partner – without tariffs or quotas
  • Includes binding enforcement and dispute settlement mechanisms to address any unfair competition – what the EU calls “level playing field” rules
  • Ensures continued smooth transport links between the UK and EU, including safeguards on passenger rights
  • Means new paperwork and other barriers for UK businesses in Europe, including financial services, which employs more than a million people in the UK
  • Transfers 25% of EU boats’ fishing rights in British waters to the UK fleet, over a five-and-a-half year transition period
  • Reduces UK access to EU programmes in various fields, including policing and education.

For Further Read on EU-UK Brexit Deal: https://blog.forumias.com/u-k-eu-reach-post-brexit-trade-deal/

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