The UK has agreed a free trade deal with the EU ahead of the end to the Brexit transition period at 11pm on December 31, 2020.
After months of talks, an agreement was reached on December 24, 2020. The UK Parliament will be recalled to vote on a law implementing a deal on Wednesday December 30, 2020.
A statement from the UK Government declared that it had “signed the first free trade agreement based on zero tariffs and zero quotas that has ever been achieved with the EU” which is the “biggest bilateral trade deal signed by either side”.
The UK and EU will continue to work closely on issues such as climate change, energy, security and transport.
On the issue of services, the UK Prime Minister, Boris Johnson, commented there is "good language about equivalence for financial services” within the trade deal. He also referenced that the deal provides provision for barristers and solicitors to be able to continue to practice in the EU. The jurisdiction of the Court of Justice for the European Union will end on December 31, 2020 as regards the UK.
Further details of the deal will emerge over the coming days.