Withdrawal Agreement Agreed

Former Prime Minister Sir John Major said: “For generations, Britain`s word – solemnly given – has been accepted by friend and foe. Our signature on every contract or agreement was untouchable. The withdrawal agreement came into force on 1 February 2020, after being adopted on 17 October 2019, at the same time as the political declaration setting out the framework for the future partnership between the EU and the UK. The 599-page withdrawal agreement covers the following key areas:[16] Immediately after the announcement of a revised withdrawal agreement on October 17, 2019, Labour, the Liberal Democrats and the DUP said they could not support the new agreement. [30] The withdrawal agreement between the European Union and the United Kingdom sets out the conditions for the UK`s orderly exit from the EU, in accordance with Article 50 of the Treaty on european Union. The most important elements of the draft agreement are:[21] In the withdrawal agreement with the EU, Northern Ireland is still in the UK, but must comply with elements of the EU customs code. The political declaration provides for the granting of aduitable status to the United Kingdom before the end of the transition period until December 2020 and confirms that the European Commission will begin to assess the adequacy as soon as possible after the UK`s withdrawal. The agreement also provides for a transitional period, which will last until 31 December 2020 and can be extended by mutual agreement. During the transitional period, EU legislation will continue to apply to the UK (including participation in the European Economic Area, the internal market and the customs union) and the UK will continue to contribute to the EU budget, but the UK will not be represented in EU decision-making bodies. The transition period will give businesses time to adapt to the new situation and the new era, so that the British and European governments can negotiate a new trade agreement between the EU and the UK. [17] [18] The EU and the United Kingdom have reached an agreement on the withdrawal agreement with a revised protocol on Ireland and Northern Ireland (abolition of the “backstop”) and a revised political declaration.