AGL 38.02 Increased By ▲ 0.08 (0.21%)
AIRLINK 197.36 Increased By ▲ 3.45 (1.78%)
BOP 9.54 Increased By ▲ 0.22 (2.36%)
CNERGY 5.91 Increased By ▲ 0.07 (1.2%)
DCL 8.82 Increased By ▲ 0.14 (1.61%)
DFML 35.74 Decreased By ▼ -0.72 (-1.97%)
DGKC 96.86 Increased By ▲ 4.32 (4.67%)
FCCL 35.25 Increased By ▲ 1.28 (3.77%)
FFBL 88.94 Increased By ▲ 6.64 (8.07%)
FFL 13.17 Increased By ▲ 0.42 (3.29%)
HUBC 127.55 Increased By ▲ 6.94 (5.75%)
HUMNL 13.50 Decreased By ▼ -0.10 (-0.74%)
KEL 5.32 Increased By ▲ 0.10 (1.92%)
KOSM 7.00 Increased By ▲ 0.48 (7.36%)
MLCF 44.70 Increased By ▲ 2.59 (6.15%)
NBP 61.42 Increased By ▲ 1.61 (2.69%)
OGDC 214.67 Increased By ▲ 3.50 (1.66%)
PAEL 38.79 Increased By ▲ 1.21 (3.22%)
PIBTL 8.25 Increased By ▲ 0.18 (2.23%)
PPL 193.08 Increased By ▲ 2.76 (1.45%)
PRL 38.66 Increased By ▲ 0.49 (1.28%)
PTC 25.80 Increased By ▲ 2.35 (10.02%)
SEARL 103.60 Increased By ▲ 5.66 (5.78%)
TELE 8.30 Increased By ▲ 0.08 (0.97%)
TOMCL 35.00 Decreased By ▼ -0.03 (-0.09%)
TPLP 13.30 Decreased By ▼ -0.25 (-1.85%)
TREET 22.16 Decreased By ▼ -0.57 (-2.51%)
TRG 55.59 Increased By ▲ 2.72 (5.14%)
UNITY 32.97 Increased By ▲ 0.01 (0.03%)
WTL 1.60 Increased By ▲ 0.08 (5.26%)
BR100 11,727 Increased By 342.7 (3.01%)
BR30 36,377 Increased By 1165.1 (3.31%)
KSE100 109,513 Increased By 3238.2 (3.05%)
KSE30 34,513 Increased By 1160.1 (3.48%)

BRUSSELS: The UK government agreed Tuesday to allow the European Union more time to formally ratify the post-Brexit trade deal which came into effect on January 1.

“We have agreed to extend the deadline for the EU to ratify the deal until 30 April,” a British spokesman said, after Brussels requested a delay.

According to the trade agreement under which Britain completed its withdrawal from the EU single market, the EU’s ratification was supposed to be done this week.

But EU member states have requested more time to prepare legally valid translations of the treaty so it is usable in all 24 official languages of the bloc, and the European Parliament wants to examine it before voting.

It is currently in force under provisional authorisation in the EU.

Britain already ratified the agreement on December 30. MPs approved the agreement on the same day they received it.

Prime Minister Boris Johnson’s government has been reluctant to allow Brussels more time.

“It is disappointing the EU has not completed its internal processes in the agreed timeframe,” the British spokesperson said, warning of uncertainty for cross-Channel businesses.

“We expect the EU to meet the new timeline.”

Earlier on Tuesday, Germany’s minister for European Affairs Michael Roth said ahead of a meeting of EU ministers that the process would continue. “We are in the process of ratifying the trade and cooperation agreement which has already been provisionally applied since January 1,” he said.

“We will prolong this provisional application until the end of April in order to allow for the consent of the European Parliament and the conclusion of the legal ‘scrubbing’ of all language versions.”

In a letter to EU Vice President Maros Sefkovic, who is representing the bloc in implementation talks, senior UK minister Michael Gove complained about the delay.

“Provisionally applying the Agreement was not the United Kingdom’s preferred outcome given the uncertainty it creates for individuals and businesses,” he said.

“Extending the period of provisional application prolongs that uncertainty.”

British exporters and cross-Channel freight hauliers have encountered severe delays and disruption since Britain departed the EU market.

But European leaders see this as the inevitable consequence of the UK government’s decision to pursue a clean break from EU rules in the wake of the 2016 Brexit referendum.

Comments

Comments are closed.