Britain and Canada agree to maintain trade relations after Brexit

British Prime Minister Boris Johnson and Canadian Prime Minister Justin Trudeau announced that their countries have reached an interim trade agreement. It takes effect after the UK leaves the EU.

“We can now continue to work on an ad hoc agreement, a comprehensive agreement in the coming years that will maximize our trading opportunities and improve the situation for everyone,” said Trudeau (quoted from CBC). “Free trade is an important part of how we are going to recover from COVID-19,” said Mr Johnson.

The Continuity of Trade Agreement between Canada and the United Kingdom calls for the waiver of tariffs on 98% of goods exported between the two countries and lays the groundwork for negotiations for a permanent deal in the new year. It could include “potential for further development in areas such as digital commerce, the environment and the economic empowerment of women,” the British government said.

The UK left the EU on January 31st. Until the end of 2020, a transitional period lasts, when the parties agree on future cooperation. EU rules still apply to the UK.

Read about what will change after “Brexit” in the material of “Kommersant” “Britain Goes Ahead.”

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