File Photo
File Photo
AFP

The 27 European Union member states gave the green light on Monday for the post-Brexit trade deal to go into effect on January 1, a spokesman said.

Ambassadors from EU capitals met in Brussels to nod through the accord, using a procedure which will take effect at 3:00 pm (1400 GMT) on Tuesday.

This will provisionally allow tariff-free trade with Britain to continue after it leaves the EU single market at the New Year.

Sebastian Fischer, spokesman for the German presidency of the EU, said: "EU Ambassadors have unanimously approved the provisional application of the EU-UK Trade and Cooperation Agreement."

The member states' adoption of the plan allows it to come into effect in time to head off disruption of cross-Channel trade.

But the deal must still be ratified retrospectively by the European Parliament, probably in late February.

The post-Brexit deal was sealed on Thursday after what led to a "tortuous journey" for the nation in its most significant shift since the loss of the British Empire.

More than four years (1,645 days, to be precise) were spent to finally realise Britain's aim to quit one of the world's biggest trading blocs, and many would say it came at a considerable cost, that once left British politics paralysed and ended the carers of two previous prime ministers.

Meanwhile, the United Kingdom leaving the single European Union market would have no adverse impact on India's information technology and pharmaceutical companies and it would be business as usual for them post-Brexit, say key industry veterans.

There won't be any material impact because the U.K. already has a good Visa regime for Indian techies. The U.K. leaves the single market and customs union on December 3.

However, Britain's post-Brexit trade deal with the European Union (EU) leaves workers' rights and environmental protection at risk of erosion and will slow the country's economic recovery, which has already been affected by the Covid-19 pandemic, a British think tank warned in an analysis.

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