It will not be until the new year that the European Union will be able to review and analyse the agreement on trade for Brexit in detail that was struck between the United Kingdom and the European Union prior to approving the agreement, said the European Parliament on Thursday.
The last minute post Brexit deal on trade between the two parties was reached just seven days prior to Britain’s exit from one of the largest trading blocs of the world and this exit of the UK from the EU is viewed as the most significant global shift for London since the loss of empire.
"The European Parliament will now analyse the agreement in detail before deciding whether to give consent in the new year," European Parliament head David Sassoli said in a statement.
While working closely with EU Brexit negotiator Michel Barnier throughout the talks, Sassoli said that the European parliament had been "clear from the outset on our red lines". Sassoli further said that here was also no guarantee that the European parliament will approve of the trade deal.
"If the European Parliament decides to approve the agreement, it will monitor closely how it is implemented," he said.
A spokesman of the EU said on Twitter that the trade deal and its potential impact on the EU and the would be discussed by the parliament after the leaders of the political groups in parliament meet on December 28 at 10am CET.
The EU's chief executive, Ursula von der Leyen, and Barnier were invited to the meeting.
"We are about to close the never-ending Brexit saga, but we aren’t there yet. The European Parliament will take its time before finally approving the text," Manfred Weber, chair of the largest group of lawmakers in parliament, said on Twitter.
A decision on whether to approve the trade agreement or not will be taken by the legislative assembly when it will resume its meetings in January which will be in the format of committees and a plenary.
The European Parliament as well as the 27 member countries of the EU will have to approve the post Brexit trade deal between UK and the EU that will govern trade relations between the two trading partners who have a total of about $1 trillion of trade annually. Ambassadors from EU countries will meet on Dec 25 at 10.30am CET to start reviewing the deal.
(Source:www.channelnewsasia.com)
The last minute post Brexit deal on trade between the two parties was reached just seven days prior to Britain’s exit from one of the largest trading blocs of the world and this exit of the UK from the EU is viewed as the most significant global shift for London since the loss of empire.
"The European Parliament will now analyse the agreement in detail before deciding whether to give consent in the new year," European Parliament head David Sassoli said in a statement.
While working closely with EU Brexit negotiator Michel Barnier throughout the talks, Sassoli said that the European parliament had been "clear from the outset on our red lines". Sassoli further said that here was also no guarantee that the European parliament will approve of the trade deal.
"If the European Parliament decides to approve the agreement, it will monitor closely how it is implemented," he said.
A spokesman of the EU said on Twitter that the trade deal and its potential impact on the EU and the would be discussed by the parliament after the leaders of the political groups in parliament meet on December 28 at 10am CET.
The EU's chief executive, Ursula von der Leyen, and Barnier were invited to the meeting.
"We are about to close the never-ending Brexit saga, but we aren’t there yet. The European Parliament will take its time before finally approving the text," Manfred Weber, chair of the largest group of lawmakers in parliament, said on Twitter.
A decision on whether to approve the trade agreement or not will be taken by the legislative assembly when it will resume its meetings in January which will be in the format of committees and a plenary.
The European Parliament as well as the 27 member countries of the EU will have to approve the post Brexit trade deal between UK and the EU that will govern trade relations between the two trading partners who have a total of about $1 trillion of trade annually. Ambassadors from EU countries will meet on Dec 25 at 10.30am CET to start reviewing the deal.
(Source:www.channelnewsasia.com)
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