The EU’s foreign affairs and trade committees backed the trade and cooperation agreement struck in December by 108 votes to one, with four abstentions
The European Parliament’s committees on relations with Britain on Thursday voted overwhelmingly in favour of the post-Brexit trade and cooperation agreement, clearing the path to its final ratification.
They had suspended voting in March in protest over British changes to trading arrangements in Northern Ireland, which Brussels says breach the terms of the Brexit Withdrawal Agreement.
The United Kingdom left the European Union on Jan. 31 after years of negotiations over their future relations but many details remain unclear, leading to acrimony.
The EU’s foreign affairs and trade committees backed the trade and cooperation agreement struck in December by 108 votes to one, with four abstentions, the parliament said in a statement.
The full chamber must still give its approval and, while it is clear the deal would receive majority backing, it is not certain that lawmakers will vote.
Parliament faces an end-April deadline but has said it wants to see Britain move on implementing the Northern Ireland protocol.
If there is no vote this month and provisional application of the agreement is not extended, then the trade deal would cease to apply, leaving Britain and the EU to trade on World Trade Organization (WHO) terms with tariffs and quotas.
Christophe Hansen, a lead lawmaker on post-Brexit ties, said Britain would not agree to another extension, meaning the end of April was a potential cliff edge. But he supported the agreement on Thursday.
Plunging our companies into renewed uncertainty would be irresponsible and definitely in nobody’s interest, he said.
Parliamentary leaders compromised this week by allowing the committee vote and could still decide to put the trade deal before the full chamber in its April 26-29 session.
The articles are for information purposes only and Precise Investors shall not be held responsible for any errors, omissions or inaccuracies within it. Any rules or regulations mentioned within the website are those relevant at the time of publication and may not be the most up-to-date.
Precise Investors does not endorse any of the products or services that appear on it or are linked to it and are not liable for any action that you may take as a result of the content of this website, or losses or damage you may incur doing so.
There is no obligation to purchase anything but, if you decide to do so, you are strongly advised to consult a professional adviser before making any investment decisions.
Please remember that investments of any type may rise or fall and past performance does not guarantee future performance in respect of income or capital growth; you may not get back the amount you invested.