On February 5th, a meeting was held between the Secretary of State for Exiting the European Union David Davis and the European Commission’s chief Brexit negotiator Michel Barnier. At the end of this meeting, Davis said that although the UK will leave the EU customs union after Brexit, but during the negotiations with Brussels, it will strive to conclude a free trade agreement.
However, Barnier expressed his opinion that without a customs union and outside the single market barriers to trade in goods and services are unavoidable. He also added that by October the parties should resolve all the main issues related to the kingdom leaving the community.
Michel Barnier emphasised that the parties should agree among themselves regarding a legally binding agreement, the definition of the the transition period conditions and the clarification of future partnership relations. After reaching a consensus on all issues, the parties will have six months to ratify the agreements reached in national parliaments.