The British government announced on Saturday that it has agreed with Canada to maintain the current terms of trade following the conclusion of Brexit.
“The UK and Canada have agreed to maintain their existing trade relationship, which accounts for £ 20bn. The parties have agreed to negotiate, at the earliest next year, on a more ambitious trade deal,” the Foreign Trade Office said in a statement.
This means that from January 1, 2021, despite the end of Brexit, the UK will maintain the same terms of trade with Canada that it had as a member of the European Union.
British Prime Minister Boris Johnson tweeted the deal as fantastic and hoped for more trade between the two countries.
Last Thursday, the EU’s chief Brexit negotiator Michel Barnier announced the suspension of negotiations between London and Brussels on trade issues due to an identified case of coronavirus infection in a member of the European delegation.
The UK is in difficult negotiations with the European Union on the relationship between the parties after Brexit. It is believed that right now the negotiation process has reached a particularly important stage.
At the end of this year, the transition period ends before the final UK exit from the EU. It was assumed that during this time the parties would agree on the principles of further relations in various fields.