UK wants to retain full control of its businesses in the EU even after the Brexit transition period expires. However, the Union may not agree to this as Belgium has terms of its own.
The United Kingdom may have already made it clear in the Brexit initiative that it doesn't want anything to do now with the European Union. However, with UK's full separation from the Union looms in the near distance, issues regarding trade and commerce come to the fore.
According to Reuters, UK wants to retain virtually the same business privileges with EU despite its impending departure from the Council.
As stated by the report, London will definitely lose its access to its biggest market, the EU, as its goods, services, and even investments can no longer move freely within the 26 remaining European states.
Michel Barnier, head of the Brexit negotiation, revealed that the UK is still campaigning for EU to sign an agreement allowing the freed state to take hold of the privileges even after the transition period ends.
According to BBC, the Brexit transition period or the "implementation period" is one of the crucial steps the UK has to take for an "orderly withdrawal."
The period this will take place is between March 2019 and December 2020.
During this time, citizens of EU member states in the UK can still enjoy the same rights as they used to before the Brexit. The UK, on its part, still holds a major part in negotiating, signing, and ratifying trade deals with the Union and its constituent countries.
The UK agreement, as Barnier said, entails "free movement of goods" between the UK and the rest of the Schengen Area (EU territory). Excluding this deal are services and people.
Moreover, the UK proposes to implement EU custom policies while not taking part in its legal order.
For Barnier, the deal is a bit lopsided, favoring the UK more.
"...the UK wants to take back sovereignty and control of its own laws, which we respect, but it cannot ask the EU to lose control of its borders and laws," the EU commissioner was quoted as saying.
On the side of EU, the Union can only offer London a Free Trade Agreement which comprises "zero tariffs and no quantitative restrictions for goods," just like what it used to before the Brexit.
However, EU is willing to retain the usual collaboration with UK in the matter of law enforcement and security in the continent.
According to Barnier, EU wants to assure full cooperation with the British when it comes to fighting crime, terrorism, and even money laundering. Measures include free exchange of records and identities of suspects and criminals. "...swift and effective extradition, guaranteeing procedural rights for suspects," are also inclusive in the EU deal.
