WHAT IT SAYS…

● TRADE: The two sides commit to a “comprehensive” economic relationship, including a free-trade area. There will be common customs arrangements to provide tariff-free trade, and the two sides commit to “build and improve on” the temporary single customs territory

The UK “will consider aligning with Union rules in relevant areas” to ensure a friction-free economic relationship. But the document acknowledges that closeness will be limited by the EU’S need to protect the integrity of its single market, and by Britain’s desire for an independent trade policy

● IRISH BORDER: The UK and the EU commit to replacing the “backstop” with a permanent solution “that establishes alternative arrangements for ensuring the absence of a hard border on the island of Ireland.” This could include as-yet undeveloped technological solutions

● FINANCIAL SERVICES: The two sides should explore whether they can declare the other’s regulatory regimes “equivalent” in order to facilitate cross-border financial services

● FISHING: The declaration says the UK will become an “independent coastal state”, but the two sides should “establish a new fisheries agreement,” by 1 July, 2020

● SECURITY: The two sides will try to maintain law-enforcement co-operation at the same level as now, “as far as is technically and legally possible.” There should be “timely exchanges of intelligence and sensitive information between the relevant Union bodies and the United Kingdom authorities”

● TRAVEL: Citizens of the UK and the EU will not need visas for short visits