Fishing Rights Top Of The Menu As Brexit Talks Continue
Fahad Shabbir (@FahadShabbir) Published November 29, 2020 | 06:00 PM
London, (UrduPoint / Pakistan Point News - 29th Nov, 2020 ) :Last-ditch Brexit trade talks continued in London on Sunday with fishing rights remaining an "outstanding major bone of contention," according to British foreign minister Dominic Raab.
European Union chief negotiator Michel Barnier told reporters that "work continues, even on a Sunday," as he arrived for the second day of talks.
Barnier had arrived in London on Friday following a spell in self-isolation after a member of his team contracted coronavirus and ahead of the resumption of talks with British counterpart David Frost on Saturday.
Both men warned that a deal could not be reached without major concessions from the other party.
There are only five weeks to go until the end of the current transition period, during which trade relations have remained largely unchanged.
The two key sticking points remain post-Brexit access to British fishing waters for European vessels and the EU's demand for trade penalties if either side diverges from common standards or state aid regulations rules.
Raab told Sky's Sophy Ridge On Sunday that this could be the final week of "substantive" talks, with time running out to agree and ratify a deal.
"There's a deal to be done," he said.
"On fishing there's a point of principle: as we leave the EU we're going to be an independent... coastal state and we've got to be able to control our waters," he added.
Barnier told envoys last week that London was asking that European access to UK waters be cut by 80 percent, while the EU was willing to accept 15 to 18 percent, according to a Brussels source.
A British official called the demands "risible", according to the domestic Press Association, adding that the "EU side know full well that we would never accept this." "There seems to be a failure from the Commission to internalise the scale of change needed as we become an independent nation," said the source.
However, Raab was cautiously optimistic over the "level playing field" issue, saying "it feels like there is progress towards greater respect" for Britain's position.
A failure to reach an agreement would see Britain and the EU trading on World Trade Organization terms, with tariffs immediately imposed on goods travelling to and from the continent.
As it stands, Britain will leave Europe's trade and customs area on December 31, with no prospect of an extension.
A no-deal scenario is widely expected to cause economic chaos, with customs checks required at borders.
Concern is particularly acute on the border between EU member Ireland and the British province of Northern Ireland, where the sudden imposition of a hard border threatens the delicate peace secured by 1999's Good Friday Agreement.
The talks have already dragged on much longer than expected and time is running out for ratification of any deal by the European Parliament by the end of the year.
Related Topics
Recent Stories
Punjab CM inaugurates Pakistan’s first Virtual Women Police Station
Dutch model Donny Roelvink embraces Islam
Experts raise concerns over introduction of 10-stick packs
Iranian president arrives in Karachi
Law Minister expresses Govt's resolve to address issue of missing persons
Rizwan’s batting order may be changed: Sources
Nawaz Sharif to visit Guangzhou exhibition in China
FM Dar not traveling to China: Foreign Office
PM takes notice of deliberate delay in tax cases
Iranian President visits Allama Iqbal’s mausoleum
Iranian President arrives in Lahore today
Currency Rate In Pakistan - Dollar, Euro, Pound, Riyal Rates On 23 April 2024
More Stories From Business
-
Afghan trade delegation, FPCCI discuss bilateral trade
8 hours ago -
With knowledge economy, Mauritius is a stable economy: Envoy
9 hours ago -
Aurangzeb reiterates govt's resole to reduce poverty, promote sustainable development
10 hours ago -
Finance minister meets Chairman Anjuman-e-Tajran; discuss issues of business community
10 hours ago -
Govt ensuring digital access as fundamental right: Ahsan Iqbal
10 hours ago -
WHO delegation calls on Chairman FBR
10 hours ago
-
Bill drafted to regulate veterinary sciences and animal welfare: Tanveer
11 hours ago -
General Motors lifts 2024 profit forecast after strong Q1
11 hours ago -
Pakistan aims to reach $3 trillion economy by 2047: Ahsan Iqbal
12 hours ago -
Digital technologies play significant role in economic growth: Shaza
12 hours ago -
Experts raise concerns over introduction of 10-stick packs
12 hours ago -
SACM directs making technical institutes as skill imparting centres
13 hours ago