Britain and the EU have agreed on a transitional period after BrexitPhoto: telegraph.co.uk
The transition period is intended to mitigate the consequences of a rupture of relations both for Britain and for the EU
The European Union and United Kingdom agreed that the transition period after Brexit will be 21 months and will end on 31 December 2020.
This was stated by chief negotiator of the EU Brexit Michel Barnier at a press conference with British Minister for Brexit David Davis in Brussels.
The transition period covers the period from 29 March 2019 to 31 December 2020 and is intended to mitigate the consequences of Brexit for Britain and for the EU.
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During this period the UK will be able to enjoy all the rights of a member country of the EU, staying in the single market, but will not be able to participate in the decision-making process in the European Union.
The UK will also be able to negotiate and sign trade agreements during the transition period.
British Prime Minister Theresa may and her colleagues from EU countries can sign the agreement already at the EU summit this week.
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Earlier it was reported that London and Brussels reached agreement on a number of important issues that will be included in the text of the agreement on the withdrawal of Britain from the EU.
We will remind, on June 23, 2016 in the UK held a referendum in which 52% of Britons expressed the desire of the United Kingdom to leave the European Union.