NRI Dunia
Think Outside The Box

EU, Britain to resume trade talks today

Britain will resume talks with the European Union (EU) on Thursday, marking a new push by the two sides to protect billions of dollars worth of trade from the beginning of next year.

Prime Minister Boris Johnson walked away from the negotiations late last week after British officials criticised conclusions from an EU summit, which they said suggested only London should compromise to try to secure a new trade deal.

With just 10 weeks until a status quo Brexit transition period due to end, both sides have traded blame and called on each other to offer more concessions in the talks, which have been all but deadlocked since the summer.

But while markets welcomed the resumption, it is unclear whether the two sides can bridge gaps on fair competition guarantees —especially state aid rules —and fisheries, a sector laden with symbolism for Brexit supporters in Britain.

A spokeswoman for Johnson’s Downing Street office said Britain’s chief negotiator David Frost had spoken to EU counterpart Michel Barnier and welcomed his comments from earlier in the day.