The European Union and the United Kingdom have marked the beginning of a new chapter in their relationship with agreements on a number of ambitious accords that will promote prosperity on both sides of the Channel and strengthen cooperation on common priorities.
The summit, hosted in London, brought together European Commission President Ursula von der Leyen, European Council President Charles Michel, and UK Prime Minister Keir Starmer.
The agreements concluded include a Security and Defence Partnership, which reflects the mutual ambitions in those areas amidst the current geopolitical situation.
Notably, the Partnership will enable the UK to participate in common procurement actions under the SAFE instrument. Under SAFE, the Commission will raise €150 billion to help EU Member States invest in common procurement projects. Countries with a security and defence partnership, such as the one concluded by the UK, will be allowed to participate in common procurements alongside Member States, ensuring interoperability with allies and helping to reduce costs.
The Partnership also opens the door to another agreement that would allow British companies to participate in the common procurements by EU Member States.
A boost for the EU and UK
The EU and the UK also reached agreements on several economic fronts that will boost prosperity on both sides of the Channel and will contribute to the fight against climate change.
Both sides agreed on reciprocal access for fishers until 2038, ensuring stability and predictability for fishing communities and businesses. They also agreed on continuing tariff-free trade in steel products.
The EU and the UK will negotiate a sanitary and phytosanitary (SPS) agreement, which would considerably reduce administrative burdens for exporters on both sides, as movements of animal and plant products could happen without SPS checks.
In the field of energy and climate, both partners will seek an agreement on the UK’s participation in the EU’s electricity market. They will also seek to link their respective emissions trading systems, which in turn could lead to mutual exemptions from their respective Carbon Border Adjustment Mechanisms.
The new scheme will be limited in terms of the age of the participants and the time they can spend abroad. It will also be subject to specific conditions.
The three Leaders thanked each other for the good cooperation during the negotiations and expressed their wish to make the best of the new impulse in the relationship.
Finally, they announced that, as of this year, bilateral summits will be held every year at the Leaders’ level. At the same time, the EU High Representative and the UK Foreign and Defence Secretaries will meet every six months for consultations on foreign and security issues of common interest.
