The United Kingdom and the European Union cut a breakthrough deal on Monday pertaining to fisheries, trade and security.The deal was finalised hours before a high-level UK-EU summit in London, which seeks to reset Britain’s post-Brexit relationship with Europe.
What is the UK-EU summit about?
On Monday, British Prime Minister Keir Starmer hosted the first UK-EU summit in London since Brexit. Senior EU officials, including European Commission President Ursula von der Leyen, attended the summit.
Brexit is short for “British exit”, and it refers to the UK withdrawing from the then 28-nation trade bloc. In June 2016, a referendum took place where voters were asked whether the UK should leave the EU, and 52 percent of voters preferred the withdrawal. The official exit took place in January 2020. The same year, a Brexit deal with the EU was struck by the Conservative Party led by then-Prime Minister Boris Johnson.
The EU is the UK’s largest trading partner. Since Brexit, the UK has seen a 21 percent drop in exports to the EU and a 7 percent drop in imports from the member countries, according to a statement from Starmer’s office on Monday. Advertisement
What does the deal entail?
The deal covers agreements in several sectors, including:
Fishing
Before Brexit, EU nations could fish in British waters, just as UK vessels could hunt for fish in the waters of other European nations. Under a common EU policy, however, there were quotas in place on how much fish could be caught in the waters of any nation to prevent overfishing.
Under the 2020 p …
