In a speech in Teesport, north-east England, on Friday 26 January, the United Kingdom's negotiator-in-chief on Brexit, David Davis, praised the merits of a post-Brexit transition period with a strict time limit, which he feels will benefit his country and the EU alike.
Without it, businesses will delay investment decisions or take hasty precautionary measures at the prospect of a Brexit with no deal on the future relationship, he said.
However, a transition period, which the Twenty-Seven see as running until the end of 2020 (see other article), will allow British companies to gradually prepare for new trading conditions with the continent whilst retaining access to the single market and membership of customs union.
Davis acknowledged that in exchange, European legislation, which will also be that of the UK at the time it leaves the EU, and the case-law of the Court will continue to apply on British soil. London will also honour its financial commitments, he pledged. However, he said that there should be discussions on the fate of European legislative texts drawn up after Brexit, which may run counter to British interests.
During this transition period, the length of which will be set at the European summit of March, the UK will still be a party to the international agreements it has entered into in the fields of aviation, trade and security. The British negotiator also stressed that the UK will put this time to use in negotiating and signing trade deals with third countries, even though these will not apply until after the transition period. He praised his country's newly regained capacity to negotiate alone, for the first time in 40 years, on trade deals with economies with considerable growth potential, such as China and Brazil. He promised that the country would commit in favour of high international standards.
Davis therefore considers that this transition period will be a bridge to the UK's future relationship with the EU (which will not involve access to the single market or customs union) and with the rest of the world. (Original version in French by Mathieu Bion)