Boris Johnson signs post-Brexit trade deal after UK lawmakers vote to pass agreement

UK Prime Minister Boris Johnson has signed the trade and cooperation agreement with the European Union, drawing curtains on the nation's four-year-long divorce battle with the 27 nation bloc on Wednesday, December 30. Johnson signed the deal on behalf of the United Kingdom after the House of Commons passed the 1,200-page trade agreement with 521 votes to 73 – a majority of 448. The European Union (future relationship) bill now heads to the House of Lords and is expected to be given royal assent shortly before midnight.

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The British parliament was recalled for an emergency single-day session to pass the post-Brexit trade and co-operation agreement after it was signed by European Commission president Ursula von der Leyen and European Council president Charles Michel earlier in the day after a brief signing ceremony in Brussels. 

While addressing the parliament, Johnson asserted that the UK would be a "friendly neighbour and best friend" to the 27 member bloc after the Brexit transition period ends on December 31. The hard-won deal comes after the two sides reached an agreement on Christmas Eve after months of tedious negotiations. 

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What is included in UK-EU trade agreement?

As per the summary published on the UK government website of the UK-EU Trade and Cooperation Agreement, both sides have agreed to "unprecedented 100% tariff liberalisation". This means that all tariffs have been scrapped along with quotas on the movement of goods produced by Britain and the European Union. This is also the first time that the 27-nation-bloc has agreed to a ‘zero tariff zero quota deal’ with any trading partner, starting from January 1, 2021.

The Brexit deal also includes the provisions to support the trade in services, providing the UK with service suppliers with legal guarantees that will not face any disruptions to trade while selling into the union along with supporting British professionals who will continue their business across Europe.

Read: 'UK Would Be EU's Ally And Best Friend After Brexit', Says Boris Johnson

Read: 'Fair And Balanced Agreement': EU Officials Formally Sign Post-Brexit Trade Deal With UK