EU’s Barnier rules out full EU-UK trade pact in time for Brexit

BRUSSELS (Reuters) – There is “no possibility” that Britain and the European Union can conclude a free trade agreement by the time Britain leaves in March 2019, EU Brexit negotiator Michel Barner said on Tuesday.

Asked about suggestions in London that a trade deal could be ready for signature shortly after Britain is no longer an EU member, Barnier reiterated the EU’s official line that only a “political declaration” outlining future trading relations would be ready at the time of Britain’s withdrawal.

He told reporters after he had briefed EU ministers ahead of a leaders’ summit on Friday that negotiating a free trade pact would take longer.

He also stressed that there must be “no backtracking” by Britain on an outline divorce package agreed last week if it wants to negotiate the future relationship.

He said that after the summit he hoped he would be able to present draft language early in the new year on the withdrawal treaty, elements of which were agreed last Friday.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.