Following Brexit negotiations, the UK reached an agreement with the European Commission on the terms of its future cooperation with the European Union on 24 December 2020.
The transition period ended on 31 December and the Trade and Cooperation Agreement now in place comprises three main pillars:
- A Free Trade Agreement which covers not just trade in goods and services, but also a broad range of other areas
- A new framework for law enforcement and judicial cooperation in criminal and civil law matters
- A dedicated section on governance that provides clarity on how the agreement will be operated and controlled in order to give maximum legal certainty to businesses, consumers and citizens.
We continue to monitor developments and advise our clients on the introduction of the new regulations. Please get in touch with your usual Howard Kennedy contact, or one of our experts below: