Britain offers new proposals on commercial ties after Brexit

The British government announced on Friday that it submitted new proposals to the European Union to overcome the issue of customs duties after withdrawing from the European Common community.

In a press statement after presiding over a ministerial meeting, Prime Minister Theresa May said her government agreed on setting up a free zone for agricultural commodities and products to facilitate trade with the EU after implementing the withdrawal scheduled on March 29, 2019.

The proposals, along with other customs measures to be revealed soon, would contribute to overcoming the issue of free movement between Northern Ireland and the Republic of Ireland, she added, describing the proposals as “good” for both Britain and the European Union.

May stressed that the government desires to expedite negotiations pace with the EU, with the aim of identifying the final agreement by the end of next October.

She warned that the cabinet agreed to intensify preparations if negotiations with Brussels end without a final agreement.

Meanwhile, the European Commission called for accepting the new proposals as there is no enough time for negotiations, saying that withdrawing from the EU without reaching an agreement is better than a bad deal.

The British government is expected to issue an official document containing the new proposals next week.

British finance minister Philip Hammond announced last November that three billion pounds (USD 3.9 billion) were allocated as an additional budget to deal with repercussions in case of leaving the EU without reaching a final agreement.

Source: Kuwait News Agency