STOCKHOLM (Reuters) – A complete settlement on the long run relationship between the European Union and Britain will take longer than the 11-month transition interval that begins when the UK leaves the EU on Jan. 31, the EU’s chief negotiator stated on Thursday.

FILE PHOTO: The European Fee Brexit chief negotiator Michel Barnier speaks in the course of the Internet Summit in Lisbon Portugal, November 5, 2019. REUTERS/Rafael Marchante

After Brexit, the 2 sides can have till the top of the 12 months to barter a brand new commerce relationship — a brief interval given the complexity of the discussions.

The negotiations are prone to be robust, particularly because the EU says that entry to the only market shall be proportional to how carefully Britain sticks to EU guidelines.

Prime Minister Boris Johnson has stated Britain won’t lengthen the transition interval past December.

“We’re able to do our greatest and to do the utmost within the 11 months to safe a fundamental settlement with the UK, however we’ll want extra time to agree on each level of this political declaration,” the EU’s Brexit negotiator Michel Barnier stated in a speech in Stockholm.

He stated the extraordinarily tight timetable meant the EU must prioritise.

First shall be constructing a brand new capability to work along with Britain each bilaterally and in international establishments to deal with points resembling local weather change and peace within the Center East.

“The second level is that we have to construct a really shut safety relationship,” Barnier stated, though he added that cooperation would essentially be lower than at present.

Lastly, he stated the EU would insist {that a} future financial partnership is predicated on a degree enjoying discipline in laws, tax and different issues.

“Competing on social and environmental requirements can solely result in a race to the underside that places staff, shoppers and the planet on the dropping facet,” Barnier stated.

Entry to the EU’s huge single market would depend upon how tightly the UK aligns itself with the bloc, together with in issues resembling state help.

“If the UK needs an open hyperlink with us for the merchandise; zero tariffs, zero quota, we must be cautious about what we name zero dumping,” Barnier stated.

“If it isn’t the case … the extent of entry for British merchandise shall be proportionate.”

Johnson has stated London is just not searching for a relationship primarily based on alignment with current guidelines.

In the long term, Barnier held out the potential of an unprecedentedly shut relationship with Britain.

“We are going to attempt for a partnership that goes nicely past commerce … masking all the pieces from providers and fisheries to local weather motion vitality transport, area, safety and defence,” he stated. “However that could be a very large agenda and we merely can not anticipate to agree on each single facet of this new partnership in below one 12 months.”

Reporting by Jan Strupczewski in Brussels and Simon Johnson in Stockholm; Modifying by Toby Chopra and Catherine Evans

Our Requirements:The Thomson Reuters Belief Ideas.

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