European Union member states have begun preparations by completing procedures to conclude a new trade agreement with the UK that will take effect from 1 January.
Both sides are working to close the gap to avoid a ‘no deal’ situation which is believed to increase the risk of both parties after 31 December.
So far both sides are still embroiled in issues that have been disputed and issued contradictory statements. On Wednesday, the British said that two important issues that hindered agreement in the post-Brexit agreement were fishing and competition.
But during a meeting with EU executives, the European Commission, which represents 27 EU member states with Britain, national diplomats in Brussels were told to be ready for a meeting on Thursday if there is an agreement. According to one EU diplomat, the chances of reaching an agreement are high.
In a report in The Sun newspaper, it was reported that the post-Brexit trade agreement was in hand and reached today or tomorrow. British and EU negotiators hope to reach an agreement on the 2,000-page written agreement.
Investors are focusing more on this issue by examining Brexit developments.
