The United Kingdom and the European Union have agreed to unprecedented 100% tariff liberalisation. This means there will be no tariffs or quotas on the movement of goods we produce between the UK and the EU. This is the first time the EU has agreed a zero tariff zero quota deal with any other trading partner
Parliament formally approves EU-UK trade and cooperation agreement. It will be effective on May 1, 2021
Parliament voted with a large majority in favour of granting its consent to the agreement setting the rules of the future EU-UK relationship.
The consent decision was adopted by 660 votes for, five against and 32 abstentions, while the accompanying resolution, setting out Parliament’s evaluation of and expectations from the deal, passed by 578 votes, with 51 against and 68 abstentions. The vote took place on Tuesday, with results announced on Wednesday.
The zero quotas and zero tariffs trade agreement between the EU and the UK are viewed positively by MEPs, and guarantees on fair competition rules could serve as a model for future trade agreements, MEPs add. Parliament agrees with provisions on, among others, fisheries, consumers, air traffic and energy.
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