On Monday, Robin Walker, the junior Brexit minister, said that the United Kingdom is very close to agreeing on the details regarding an implementation period with the European Union for its transition out of the European Union.
The United Kingdom has said that it will adhere to the regulations of the European Union for a time-limited period after it withdraws from the European Union in March next year, and hopes that the details of this transition, or implementation, period, will be finalised during a summit with the European Union that is scheduled on March 22-24.
During a speech at the Institute of Directors in London, Walker stated: “We recognise how important it is to secure the deal on the implementation period as soon as possible. I want to stress that we are very close to a deal at this time.”
The United Kingdom says that the implementation period will offer businesses certainty heading into 2019, as the rest of the future relationship of Britain with the European Union is yet to be agreed upon.
Earlier, a spokesperson for Theresa May, the British Prime Minister, said that the United Kingdom was still confident that it could reach an agreement with the European Union regarding a transition period following Brexit at the EU summit this month.
Britain has said that it expects that the transition period will last approximately two years following its departure date. However, the European Union has said that it should end earlier, on the 31st of December, 2020.