Canada trade deal to benefit spirits

Ottawa Downing Street agree to $27 billion post Brexit rollover trade deal

British and European Union negotiators on Monday resumed talks on their post-Brexit relationship via video-conferencing, with the focus still squarely on dividing up fishing quotas and ensuring fair competition for companies, including on state aid.

"This is a good moment", Mr Trudeau said.

He added: "One must remain hopeful that a deal can be arrived at".

The stopgap agreement allows trade between the two countries to continue under the same terms as Canada's existing treaty with the European Union while negotiators begin work on a new bilateral deal between the United Kingdom and Canada, Prime Minister Boris Johnson said in a statement.

The EU's Brexit negotiator Michel Barnier said earlier today that "fundamental divergences" still remain between the two sides.

But without new bilateral agreements, the UK's trade with countries around the world may be hampered by barriers such as tariffs and increased paperwork. The government expects the deal to lock in at least £20 billion in trade between the two nations, as well as an estimated £42 million in tariff savings on British exports.

The EU has frequently warned that its lawmakers will need some time to process any deal before ratifying it during their plenary session, scheduled for mid-December.

Elon Musk Becomes Second Richest Person In The World; Overtakes Bill Gates
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Meanwhile, Boris Johnson talked up the chances of a post-Brexit UK-Australia free trade deal being secured.

The deal with Canada is the second major trade agreement announced by Britain in less than a month, after it agreed to terms with Japan in late October.

"We need to uphold the link between fishing and trade rules, this comes in a package", the source said.

A technology glitch stopped Mr Johnson virtually presenting the award to Mr Morrison, but he came back into the event after the Australian PM made a speech praising global co-operation.

"Our negotiators have been working flat-out to secure trade deals for the United Kingdom, and from as early next year we have agreed to start work on a new, bespoke trade deal with Canada that will go even further in meeting the needs of our economy".

Apart from that, as beforementioned the UK PM Boris Johnson had joined his Canadian counterpart Justin Trudeau and their trade ministers in a conference call on Saturday to rubber stamp the deal what analysts said could have cemented the way for further agreements covering a swathe of sectors ranging from small businesses to digital trade to environment and women empowerment.

The talks will resume in London from Friday, said the news, if depending on the results of Covid-19 tests.

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