The European Union and the United Kingdom are nearing an agreement to ease trade barriers, including plans for a shared free-trade area for agricultural and food products, linked emissions trading systems, and a scheme allowing young people to live and work in the other jurisdiction for up to three years.
The two sides also intend to coordinate trade protection measures against China and other third countries more closely. These plans appear in a confidential draft of a joint declaration prepared for the EU-UK summit scheduled for November 20. According to the draft, negotiations on the first three agreements have already concluded.
The broader package has not been finalized. EU diplomats said the trade measures would take effect only if the UK makes progress on tuition fees for European students. The EU is seeking equal fees for European students and UK citizens, while the summit draft proposes concluding negotiations on the issue within six months. A senior EU official told Handelsblatt that nothing is agreed until everything is agreed.
Sources: Handelsblatt.