No time to rest for Brexit deal

The fast-track ratification of the post- Brexit trade deal between the United Kingdom and the European Union is under way, with ambassadors from the bloc’s 27 nations assessing the accord that takes effect in a week.

At an exceptional meeting in Brussels yesterday, the ambassadors were briefed about the details of the draft treaty, which is believed to be around 1250 pages long, by the EU’s chief Brexit negotiator Michel Barnier.

They are set to reconvene tomorrow, and have informed lawmakers at the European Parliament that they intend to make a decision within days.

All EU member states are expected to back the agreement, as is the European Parliament, which can only give its consent retrospectively, as it can’t reconvene until next year. British MPs have to give their approval as well, and are being summoned next week to vote on the accord.

Both sides claim the agreement protects their goals. British Prime Minister Boris Johnson says it gives the UK control over its money, borders, laws and fishing grounds. The EU says it protects its single market of around 450 million people, and contains safeguards to ensure that the UK does not unfairly undercut the bloc’s standards.

British opposition leaders, even those who are inclined to back the deal because it is better than a no-deal scenario, say it adds unnecessary costs on businesses and fails to provide a clear framework for the crucial services sector, which accounts for 80 per cent of Britain’s economy.

Without a trade deal, tariffs would have been imposed on trade between the two sides from January 1. Both would have suffered, with the British economy taking a bigger hit, as it is more reliant on trade with the EU than vice versa.

Though tariffs and quotas have been avoided, there will be more red tape, because the UK is leaving the EU’s frictionless single market and customs union. Firms will have to file forms and customs declarations for the first time in years. There will also be different rules on product labelling, as well as checks on agricultural products.

One sector that appears to be disappointed is the fishing industry, with both sides voicing their discontent at the new arrangements. Arguments over fishing rights were largely behind the delay in reaching an agreement.

Under the terms of the deal, the EU will give up a quarter of the quota it catches in British waters, far less than the 80 per cent Britain initially demanded. The system will be phased in over 51⁄ years, after which quotas will be reassessed.

‘‘ In the end, it was clear that Boris Johnson wanted an overall trade deal and was willing to sacrifice fishing,’’ said Barrie Deas, chief executive of the National Federation of Fishermen’s Organisations.

The French government, which had fought hard for fishing access, announced aid for its fishing industry to help deal with the smaller quota, but insisted that the deal protected French interests.