The EU-UK Trade and Cooperation Agreement
The Agreement between the EU and the UK, which came into force on January 1, 2021, sets out preferential arrangements between both parties in areas such as trade in goods and in services, digital trade and intellectual property. Other sectors covered by the agreement are public procurement, aviation and road transport, energy, fisheries, social security coordination, law enforcement and judicial cooperation in criminal matters, thematic cooperation and participation in EU programmes.
The agreement goes beyond traditional free trade agreements, but will not match the level of economic integration that existed while the UK was an EU Member State. The UK will no longer benefit from access to the EU Single Market and Customs Union, or from EU policies and international agreements.
The EU-UK Trade and Cooperation Agreement consists of:
- a Free Trade Agreement, with ambitious cooperation on economic, social, environmental and fisheries issues;
- a close partnership on citizens’ security;
- an overarching governance framework.
Areas that are not part of the Agreement are foreign policy, external security and defence cooperation, financial services, legislation regulating data protection, or the legislation regulating human, plant and animal health, as the UK did not want to negotiate on these matters.
The full Agreement may be found here.