A transition agreement between the European Union (EU) and the United Kingdom (UK) was implemented on January 1, 2021. This agreement sets out the terms of the UK`s departure from the EU and what it means for the relationship between the two entities going forward.
The transition agreement was negotiated between the EU and UK in 2019 and was ratified by both parties in 2020. It serves as a temporary arrangement that will remain in place until December 31, 2021, during which time the UK will continue to adhere to EU rules and regulations.
Under the terms of the transition agreement, the UK will no longer be a member of the EU, but it will still have access to the single market and customs union during the transition period. This means there will be no tariffs or quotas on trade between the UK and EU member states.
The UK will also continue its participation in EU programs and policies during the transition period, such as the Common Agricultural Policy and the Erasmus student exchange program. Additionally, the rights of EU citizens in the UK and UK citizens in the EU will be protected under the agreement.
However, it is important to note that the transition agreement does not address all issues related to the UK`s departure from the EU. Negotiations on the future relationship between the two entities will continue throughout the transition period, and a new trade agreement is yet to be finalized.
The transition agreement has been necessary to provide some stability and certainty during the UK`s departure from the EU. It provides a framework for the two entities to continue their relationship while negotiations on future arrangements are ongoing.
In conclusion, the transition agreement between the EU and UK is a crucial step in the UK`s departure from the EU. While it provides a temporary arrangement for the two entities to continue their relationship, negotiations on future arrangements will continue throughout the transition period. The agreement has been necessary to provide some stability and certainty during this period of change.