EU chief negotiators reported on Thursday that there had been good progress in trade negotiations with Britain. One of the main objectives of the week-long talks is to prevent a Brexit crisis before 31 December. However, one British official informed that both sides were still far from reaching an agreement.
Since then it has been reported that negotiations are intensifying and this has succeeded in increasing the optimism that an agreement can be reached to ensure that the trade volume worth 1 trillion is free from tariffs and quotas after 31 December.
The GBP strengthened by 0.62% against the US dollar at the 1.3590 exchange rate as of 10.00 p.m. According to interior minister Priti Patel, negotiations are at an all-time high. British Prime Minister Boris Johnson now has time to decide whether to accept the agreement offered by the EU or choose to put the UK in more risky circumstances.
According to EU chief negotiator Michel Barnier, so far there has been good progress but there is no denying that there are still final obstacles to be overcome. There are statements from the EU that disputes are still focused on fisheries issues and some minor issues. Meanwhile, the statement from the UK that the UK consultants think they are still far from reaching an agreement because they do not see it worth it so far.
