Brussels (AFP)

The text of the post-Brexit economic and trade partnership agreement between the EU and the UK, a 1,246-page document, was released on Saturday.

Here are the main lines of the treaty which sets the framework for their relations from January 1.

- Goods -

The agreement guarantees trade without tariffs or quotas for "all goods which comply with the appropriate rules of origin".

Unheard of in a trade agreement.

This unprecedented agreement avoids a break in production chains and avoids customs duties of 10% for the automotive sector, 25% for processed fish products and 50% for beef, dairy products, poultry, pork, lamb, grains, sugar and many processed food products.

- Competition -

The UK and the EU are committed to a level playing field.

The United Kingdom agrees not to downgrade all European social, environmental and climate legislation and standards in place on December 31, 2020 and to adapt to their changes.

The agreement provides for the possibility of applying unilateral rebalancing measures, in particular tariffs, in the event of significant discrepancies, when they may lead to an increase in production costs and therefore to a competitive disadvantage.

- Disputes -

If the UK or the EU does not comply with the treaty, a binding dispute settlement mechanism, such as exists in most trade agreements, will be responsible for settling the disputes.

Faced with firm opposition from London, the Court of Justice of the European Union will not intervene in this process.

A "Joint Council" will ensure that the agreement is correctly applied and interpreted.

- Peach -

The agreement provides for giving European fishermen access to UK waters for a transitional period of 5.5 years, until June 2026.

During this transition, the EU will have to gradually give up 25% of its catch, which amounts to around 650 million euros per year.

If the UK restricts EU access or catches, the EU can retaliate by imposing tariffs on UK fishery or other goods, or even suspending much of it. of the trade agreement while keeping intact the rules of fair competition.

- Transport -

The treaty guarantees uninterrupted air, road, rail and sea connectivity, but in a less advantageous way than if the UK remained a member of the single market.

Provisions aim to ensure that competition between operators is exercised on a level playing field "so that the rights of passengers, workers and transport safety are not compromised".

- Programs -

The UK will continue to participate in some EU programs for the period 2021-2027, such as the Horizon Europe research and innovation program, on condition that it contributes to the EU budget.

But the UK is leaving the Erasmus student exchange program.

- Judicial cooperation -

The agreement "establishes a new framework" for police and judicial cooperation, "in particular to combat cross-border crime and terrorism".

The two sides will continue to share DNA, fingerprints and passenger information and will cooperate through Europol.

This cooperation could be suspended if the United Kingdom renounces its adherence to the European Convention on Human Rights or "to have it applied at national level".

- Financial services -

As of January 1, the UK will no longer benefit from the principles of free movement of persons, freedom to provide services and freedom of establishment.

UK service providers will lose their automatic right to offer services across the EU and will have to establish themselves in the EU to continue to operate.

They will no longer benefit from the 'country of origin' approach or the 'passport' concept, according to which authorizations issued by a Member State under EU rules provide access to the entire market. unique to the EU.

- Terms of the agreement -

The agreement will be steered by a joint committee, on which both parties will sit.

The terms of the relationship may be reviewed and amended every five years.

A unilateral exit will have to be notified a year before.

The full text of the EU-UK agreement can be found here: https://ec.europa.eu/info/sites/info/files/draft_eu-uk_trade_and_cooperation_agreement.pdf

It has only been published in the English version only, but it will be translated into the 23 official EU languages ​​in the coming weeks.

© 2020 AFP