Britain and Canada could announce trade deal in coming days - sources

By David Ljunggren and Elizabeth Piper OTTAWA/LONDON (Reuters) - Britain and Canada are very close to agreeing the terms of a free trade deal and the agreement could be announced in the coming days, a Canadian government source said on Thursday. Britain is negotiating several bilateral trade deals to come into force once it exits a transition arrangement with the European Union at the end of this year, and many of them would simply replace the terms the bloc had already agreed.

Reuters November 20, 2020 00:11:01 IST
Britain and Canada could announce trade deal in coming days - sources

Britain and Canada could announce trade deal in coming days  sources

By David Ljunggren and Elizabeth Piper

OTTAWA/LONDON (Reuters) - Britain and Canada are very close to agreeing the terms of a free trade deal and the agreement could be announced in the coming days, a Canadian government source said on Thursday.

Britain is negotiating several bilateral trade deals to come into force once it exits a transition arrangement with the European Union at the end of this year, and many of them would simply replace the terms the bloc had already agreed.

British Trade Minister Liz Truss earlier said the government of Boris Johnson was determined to reach a trade deal with Canada before the end of the year.

"We are very very close ... it's fair to say it will be a matter of days," said the Canadian source, who requested anonymity given the sensitivity of the situation.

A second Ottawa-based source familiar with the talks also said an announcement would come very soon.

News that the deal could be imminent was first reported by the Bloomberg news agency.

After leaving the EU in January, Johnson is trying to shape a "global Britain" that can strike out alone and negotiate better agreements than the bloc. But so far, his critics point out, the deals have largely been the same.

The European Union already has a free trade pact with Canada. Truss said Canada and Britain were negotiating a continuity agreement, which would ensure there were no disruptions to free trade.

"I do hope that in the future, as Canada is a member of the Trans-Pacific Partnership ... that we will be able to go much further and build a much deeper relationship with Canada," she told legislators.

A Johnson spokesman said that in less than two years, the government had signed or agreed in principle trade agreements with 52 countries, accounting for 142 billion pounds ($187 billion) of British bilateral trade.

(Additional reporting by William James in London; Editing by Kate Holton, Stephen Addison and Bernadette Baum)

This story has not been edited by Firstpost staff and is generated by auto-feed.

Updated Date:

TAGS:

also read

France, Germany to agree to NATO role against Islamic State - sources
| Reuters
World

France, Germany to agree to NATO role against Islamic State - sources | Reuters

By Robin Emmott and John Irish | BRUSSELS/PARIS BRUSSELS/PARIS France and Germany will agree to a U.S. plan for NATO to take a bigger role in the fight against Islamic militants at a meeting with President Donald Trump on Thursday, but insist the move is purely symbolic, four senior European diplomats said.The decision to allow the North Atlantic Treaty Organization to join the coalition against Islamic State in Syria and Iraq follows weeks of pressure on the two allies, who are wary of NATO confronting Russia in Syria and of alienating Arab countries who see NATO as pushing a pro-Western agenda."NATO as an institution will join the coalition," said one senior diplomat involved in the discussions. "The question is whether this just a symbolic gesture to the United States

China's Xi says navy should become world class
| Reuters
World

China's Xi says navy should become world class | Reuters

BEIJING Chinese President Xi Jinping on Wednesday called for greater efforts to make the country's navy a world class one, strong in operations on, below and above the surface, as it steps up its ability to project power far from its shores.China's navy has taken an increasingly prominent role in recent months, with a rising star admiral taking command, its first aircraft carrier sailing around self-ruled Taiwan and a new aircraft carrier launched last month.With President Donald Trump promising a US shipbuilding spree and unnerving Beijing with his unpredictable approach on hot button issues including Taiwan and the South and East China Seas, China is pushing to narrow the gap with the U.S. Navy.Inspecting navy headquarters, Xi said the navy should "aim for the top ranks in the world", the Defence Ministry said in a statement about his visit."Building a strong and modern navy is an important mark of a top ranking global military," the ministry paraphrased Xi as saying.