The Withdrawal Agreement between the United Kingdom (UK) and the European Union (EU) was agreed upon on November 25, 2018. This agreement outlines the terms of the UK`s departure from the EU, including a transition or implementation period.
The implementation period, also known as the transition period, is scheduled to last from the date of the UK`s departure from the EU on January 31, 2020, until December 31, 2020. During this period, the UK will still follow EU rules and regulations and will continue to have access to the EU`s single market and customs union.
The purpose of the implementation period is to give both the UK and the EU time to negotiate and agree upon a new long-term relationship. It is also intended to provide businesses and individuals with time to adjust to the new relationship and to prevent a sudden disruption of trade and other activities between the UK and the EU.
During the implementation period, the UK will not have any voting rights or decision-making power in the EU institutions. However, the UK will still be subject to the EU`s laws and regulations, including any new laws or regulations that are introduced during the implementation period.
Issues that are likely to be negotiated during the implementation period include trade, tariffs, immigration, security, and data protection. The outcome of these negotiations will determine the long-term relationship between the UK and the EU.
It is important to note that the implementation period can be extended by mutual agreement between the UK and the EU. However, any extension must be agreed upon before July 1, 2020.
In conclusion, the implementation period is a crucial part of the Withdrawal Agreement between the UK and the EU. It provides time for negotiations and adjustment, and its outcome will determine the long-term relationship between the UK and the EU. As we approach the end of the implementation period, it is important for businesses and individuals to keep up to date on the progress of negotiations and to prepare for any changes that may occur.