EU diplomats issued a statement today saying they hoped the Brexit trade agreement with Britain would reach an agreement this Friday or this weekend. In addition, the consultants will review the progress made in these two days.
One of the British ministers stated that there had been good progress in the ongoing negotiations but the UK had warned that they would not sign an agreement that did not benefit them.
Britain will leave the European Union (EU) in full on 31 December signaling an unofficial membership transition. Both sides are seeking annual trade worth nearly $ 1 trillion.
Three EU diplomats say they hope EU negotiators Michel Barnier and UK representative David Frost can sign an agreement immediately on Friday or on the weekend. In 24-48 hours this will be a very important moment for the Brexit deal.
Failure to reach an agreement will hamper trade relations in the future and it will increase financial market concerns as it could disrupt the supply chain as the world seeks to offset the enormous economic costs of the COVID-19 pandemic.
This is the time for both parties to make every effort to reach an agreement. After this there is most likely no extended period.
