Monday, July 26, 2021

Will the trade agreement between the European Union and Britain end the “Brexit” crisis?

Arab newspapers and websites have discussed the European Union and Britain reaching an agreement on trade exchange after Britain’s exit from the European Union. While some newspapers described the agreement as “historic”, a book warned that Britain’s markets would need years to recover.

‘Historic deal’ “Has London breathed a sigh of relief after the trade agreement with the European Union?”

He says, “The breakthrough comes after months of stalemate, as the most difficult points in reaching an agreement were fisheries and competition issues. Britain was seeking, through arduous trade talks with the European Commission, to avoid a bleak economic scenario, especially in Britain.” This led to the delay in announcing a landmark deal beyond ‘Brexit’.

and adds: “The worst was avoided by signing this historic agreement following negotiations that sparked widespread controversy, and it would prevent the sudden emergence of costly trade barriers and the closure of British waters to European fishermen.”

Mohammed Khalifa said in the Emirati “Gulf”: “Since the ‘Brexit’ referendum was held in Britain in 2016 … negotiations began with the European Union in order to end their partnership and reach a new agreement, and the negotiation period lasted four years without the two sides reaching an agreement. “Satisfactory to both parties, but at the last minute, an exit agreement was reached last Thursday, which ends four years of painstaking negotiations.”

However, he refers to the impasse that this will cause to Ireland, saying that Brexit “will exacerbate the situation in Ireland, where tariffs between the two parts of the island will return, and the separation between them will return after they have lived for a long time in the shadow of one country without borders, and this is what will push the Irish nationalists in the middle.” North, to move towards violence again to achieve territorial integrity between the two halves of the island. “

‘Brexit scars’ Al-Masry Al-Youm says in a headline: “Britain ‘separate” finally reaches a trade agreement with the European Union. ”

“The agreement will preserve Britain’s ability to access the common market for the bloc that includes 450 million consumers, but it will not prevent economic losses and confusion in the United Kingdom or the member states of the European Union,” she said.

She added, “There are still many aspects of the future relationship between Britain and the European Union that need to be studied which may last for years.”

The Arab Trader site refers to the impact of Brexit on financial markets, and says: “The trade agreement between Britain and the European Union addressed a 4 and a half-year-old fear of the Brexit scenario without commercial arrangements, but the British financial markets will take years to recover from the scars of Brexit. “

.He adds that the deal, which was concluded “seven days before the deadline, is an undoubted relief for both parties.” “.

Source: BBC Arabic

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