The Brexit Transition Period and the EU's Existing FTA Partners
Joe, Dong-Hee | May 2018
The Brexit negotiators agreed to have a transition period starting from the beginning of the UK's withdrawal from the Union to the end of 2020. During this period the UK will mostly remain in the current EU system as if it were a member, with the exception of the Union's decision-making process. It was clear from the outset of the negotiations that the time left until the UK's departure from the Union, expected to be in March 2019, would be insufficient to conclude and put into effect a proper framework to govern the post-Brexit relationship between the EU and the UK. Both parties wanted to avoid an abrupt change, and to reduce the uncertainty stemming from this negative prospect, because of the importance of their bilateral relationship. Although the UK wished for a transition period lasting for 2 years, it will end at the same time with the UK’s contribution to the Union’s Multiannual Financial Framework, which is seen as more logical.
CitationJoe, Dong-Hee. 2018. The Brexit Transition Period and the EU's Existing FTA Partners. © Korea Institute for International Economic Policy. http://hdl.handle.net/11540/8483.
Regional Economic Integration
Economies in transition
Gross domestic product
Economic development projects
Success in business
Communication in economic development
Restraint of trade
International economic integration