British Parliament Approves Brexit Trade Deal

The British parliament has approved on Wednesday the post-Brexit trade deal with the European Union (EU).

This comes a couple of days before the end of the transition period after the government of Prime Minister Boris Johnson reached an agreement with the EU regarding future relations between the two parties following the speration.

The recently agreed-upon Brexit trade deal between the United Kingdom (UK) and the European Union (EU) is a good agreement for the fisheries industry, Reuters cited a senior member of the UK’s negotiating team as saying on Tuesday.

“The deal we have got recognizes UK sovereignty over our fishing waters, it says that up front.”

The agreement will allow the industry to rebuild itself within a five and a half years transition.

“We think this is a good deal. This enables the fishing industry to rebuild itself during the transition, we are investing GBP 100 million into programs to help modernize the fish processing industry over this period.”

It is worth noting that fisheries were among the trade negotiations hottest topics and was subject to large disagreements between the UK and the EU.

Meanwhile, the deal has come under some criticism from British fisheries groups.

Furthermore, the EU chief negotiator Michel Barnier said on Tuesday that the deal was a relief and provided stability for economies.