NRI Dunia
Think Outside The Box

‘Big progress’ in Brexit talks leaves EU seeing trade deal closer

Britain and the EU are close to agreement on reciprocal social security rights for their citizens after Brexit, two diplomatic sources said, with one describing talks last week on an elusive trade deal as “one of the most positive so far”.

The European Union diplomats said Brussels was now gearing up to negotiate until as late as mid-November – rather than cutting talks off at the start of next month – to avoid a damaging “no-deal” scenario when Britain’s standstill transition with the bloc ends on December 31.

There was no breakthrough at last week’s negotiating round on the three most contentious issues – fishing rights, fair competition guarantees and ways to settle disputes in the future – but the prospects of an overall accord looked much brighter.

“We seem to be getting closer and closer to a deal, even though the no-deal rhetoric in public might suggest the opposite,” said one of the two sources, both of whom were briefed in detail by the executive European Commission, which is negotiating with Britain on behalf of the 27-nation EU.

The sources spoke ahead of further talks in London starting on Wednesday with Britain, which formally left the EU in January after nearly half a century of membership.

At stake in the talks is an estimated trillion euros worth of bilateral trade. Investors and businesses are increasingly anxious about a split with no agreement to ensure the continuation of trade without tariffs or quotas.