Special Correspondent BRUSSELS/DUBLIN, (CWBN)_ There is still time for “good results” in trade talks between the Britain and the European Union, although the EU Chief Executive says that the risk of no-deal Brexit still remains.
The European Commission head, Ursula von der Leyen, said the EU was ready for leaving the UK from the block without a trade deal, though there is “genuine progress” in the Brexit trade talks.
In January, the UK left the block and a transition status quo period will expire at the end of this year.
The estranged allies are in a last-ditch attempt to agree to terms and conditions to ensure smooth trade flow without punitive tariffs or quotas.
“Sometimes you can get a good result in extra time,” Ireland’s Micheal Martin said, when inquired if time was running out to reach an accord.
Some of the major obstacles for a final deal are fishing rights, ways to settle future disputes, and “level playing-field” rules to ensure fair competition.
Martin acknowledged the fact that he thought there was a “landing zone” in the trade negotiations over the level playing-field rules, which would pave the way to enter into an accord on a dispute resolution mechanism.
Von der Leyen said the coming couple of days would be “decisive”.
“With very little time ahead of us, we will do all in our power to reach an agreement. We are ready to be creative. But we are not ready to put into question the integrity of our single market,” she said at the European Parliament.
An official involved in the trade negotiations said a deal was possible, but not likely before the weekend at the earliest. An EU diplomat said it was more likely to happen next week.
“We need to establish robust mechanisms, ensuring that competition is – and remains – free and fair over time. In the discussions about state aid, we still have serious issues, for instance when it comes to enforcement,” said von der Leyen.
The EU needed to be able to retaliate on trade if Britain undercuts labour or environmental standards, she stressed. The trade block also wanted to ensure long-term predictability for its fishing industry, which faces a risk of reduction in catch following the Brexit.
Clear –cut differences
British PM Boris Johnson told parliament on Wednesday the EU should accept “the reality that we must be able to control access to our waters” to make substantial progress on fisheries.
Johnson reiterated that he wants a deal with the block. However, it is only if the EU respects British sovereignty.
The official at the trade talks said that the latest EU and UK notions for solutions on the three major contentious issues including transition periods and reevaluation of clauses – were still “dramatically different”.
According to officials the trading block wants to finalise joint production standards and to ensure a long-term perspective for its fishing industry. However, the UK wants to drop any such commitments in the future.
Edited by Elishya Perera
