Britain left the European Union last January and both sides are working to reach an agreement in trade before 31 December.
Recent developments based on negotiations conducted today, Trade Secretary Liz Truss noted that negotiations between the UK & EU showed good progress.
However, he added that if the EU was not ready to enter into an agreement that would allow the UK to maintain its sovereignty then the UK would not hesitate to use Australian conditions and that was seen as appropriate.
British and European Union chief negotiators Michel Barnier and David Frost met on Friday for intensive talks. The EU states that they are ready to discuss a draft law of agreement.
After some advances in competition guarantees including state aid regulations, the most difficult problem to overcome is the issue of fisheries. Boris Johnson remains of the view that the UK should retain rights over the waters, while the EU wants access to fishing waters.
The Irish foreign minister said he believed Britain and the EU would reach a trade agreement as negotiations were ongoing
