Key Points Of Britain's Plan For Post-Brexit Ties With EU

The plan was agreed by Prime Minister Theresa May's cabinet last week -- only for two top ministers to quit in protest at its provisions to adopt EU rules on trade in goods.

London, (APP - UrduPoint / Pakistan Point News - 12th Jul, 2018 ) :Britain set out in detail Thursday its proposals for the future economic and security relationship with the European Union after Brexit.

The plan was agreed by Prime Minister Theresa May's cabinet last week -- only for two top ministers to quit in protest at its provisions to adopt EU rules on trade in goods.

The plan foresees an overall "association agreement" with the EU encompassing agreements on different areas, from energy and aviation to trade and sharing of criminal data.

Here are the key points: - Trade in goods - Britain and the EU would maintain a "common rulebook" for goods to ensure smooth cross-border trade in manufacturing and agricultural, food and fisheries products.

The plan proposes to eliminate tariffs, quotas and rules of origin requirements, while Britain would participate in regulatory agencies for medicines, chemicals and aerospace.

The intention is to protect complex supply chains and just-in-time processes vital to, for example, the automotive industry, while also avoiding border checks between British Northern Ireland and EU member Ireland.

Britain would agree upfront to "ongoing harmonisation" with future EU rules but expects to be consulted -- and parliament reserves the right to reject them, accepting the consequences that this would have for market access.

Britain believes it can have this free trade area while also forging its own independent trade policy, where it sets its own tariffs on products from outside the EU.

It would use technology to apply British tariffs to goods intended for Britain, and the EU's tariffs on those intended for the bloc.

Britain would leave the EU's Common Agricultural Policy and Common Fisheries Policy.

- Financial services - The plan concedes that City of London firms will lose their "passporting" rights to operate freely across the EU.

But it also says the deep ties between the two territories means special bilateral arrangements already used by financial firms from Wall Street, Japan and China are not good enough either.

So-called "equivalence" sees firms agree to meet EU rules to keep access to its market.

The plan urges a hybrid arrangement that would adopt equivalence but also recognise "extensive supervisory cooperation and regulatory dialogue" between Britain's financial watchdogs and their EU counterparts.

- European Court The rights stemming from the agreement would be enforced by British courts in Britain, and EU courts in the European Union.

Direct jurisdiction of the European Court of Justice would end.

But each territory's court should take into account the relevant case law of the other to ensure consistent interpretation of the deal.

Where Britain joins EU agencies governed by the ECJ, it must respect its remit.

The EU and Britain would establish a political governing body and an official-level technical committee to oversee the deal, with disputes going to independent arbitration if necessary.

- Migration - Britain would end free movement of people from the EU, and parliament would decide future immigration plans, but would seek reciprocal "mobility arrangements" with the bloc.

It wants to support businesses to move staff between the two territories, allow mobility for students and young people, and allow citizens to travel without visas for tourism and temporary business activity.

Any deal should also include arrangements ensuring that Britons retiring to EU countries have access to their pensions and healthcare.

The arrangements would be "in line" with those offered to other trading partners in future.

- Standards and competition - Britain would legally commit to a common rulebook on state aid rules, and establish "cooperative arrangements" on competition.

Both sides would agree to maintain high regulatory standards in areas such as environment and employment.

- Security - Britain wants a new treaty on internal security, including continued sharing of data on criminal records and airline passengers.

It wants extradition arrangements similar to the European Arrest Warrant and close participation in agencies such as policing organisation Europol.

On external security, it wants regular dialogue with other EU leaders, including to discuss sanctions.

It also wants continued participation in the EU's Galileo satellite navigation system -- but accepts a "fundamental difference of views" with Brussels, which rejects the idea.

Britain proposes to continue working with the EU's border agency Frontex on tackling illegal migration, as well as new arrangements to deal with asylum seekers.