LONDON (Pakistan Point News / Sputnik - 16th November, 2020) Prime Minister Boris Johnson is confident the United Kingdom will prosper without a post-Brexit trade agreement with the European Union, his office said on Monday, as both sides try to reach a deal before the transition period expires on December 31.
"The prime minister has been clear that we will not accept any proposals in the negotiations that undermine our status as a sovereign, independent country. If the EU don't respect the sovereignty of the UK, we will leave on Australian terms and the prime minister is confident that we will prosper," Johnson's office said in a statement.
The UK left the EU on January 31, but as part of the withdrawal agreement, both sides entered an 11-month transition period to negotiate their future commercial relations.
Trade talks have been at an impasse for months over wide divergences over fishing quotas, the level-playing field � the set of common rules and standards designed to prevent businesses in one country from undercutting their rivals in other countries � and governance.
Upon arriving in Brussels on Sunday to resume talks with his EU counterpart Michel Barnier, UK chief negotiator, David Frost, said on Sunday that although some progress had been made in recent days, "significant elements" are yet to be agreed.
"We are working to get a deal, but the only one that's possible is one that is compatible with our sovereignty and takes back control of our laws, our trade, and our waters. That has been our consistent position from the start and I will not be changing it," Frost wrote on Twitter.
Barnier also took to the social media platform on Monday to stress that the EU remains "determined, patient, respectful" to reach a trade deal with the UK, but that the eventual agreement must be fair.
"We want our future cooperation to be open but fair in all areas," he tweeted.
Irish Foreign Minister Simon Coveney also said on Monday that that although he had predicted both sides would reach a deal, he would not be shocked if it all fell apart.
"If there is not a major breakthrough over the next week to 10 days then I think we really are in trouble and the focus will shift to preparing for a no trade deal and all the disruption that that brings," Coveney said, as quoted by UK media.
If no trade deal is secured before the year's end, the World Trade Organization rules will come into effect starting in 2021, including customs tariffs and full border checks for goods crossing the English Channel.
