Newest Brexit Deal: Reactions from Across the World as Britain Seals EU Commerce Deal – Reside Updates

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Jasmine Cameron-Chileshe in London

British Prime Minister Boris Johnson welcomed the agreement with the EU as a "comprehensive free trade agreement based on the Canadian model" that would offer security to companies.

The new agreement will maintain duty-free and quota-free trade in goods between the EU and the UK and is the largest bilateral trade agreement signed by the two countries, covering trade worth around £ 660 billion.

"We have regained control of our laws and our destiny," he said at a press conference on Downing Street. "As of January 1st, we will be outside the Customs Union and outside the Single Market. British laws are made exclusively by the British Parliament." interpreted by UK judges sitting in UK courts and the jurisdiction of the EU Court of Justice will come to an end. "

However, Mr Johnson stressed that the UK would continue to work in harmony with the EU, adding: "This is good business for all of Europe and also for our friends and partners."

Speaking directly to European leaders, the Prime Minister added: "We will be your friend, your ally, your supporter and will never let you forget it – your number one market."

"This country will remain culturally, emotionally, historically, strategically and geologically bound to Europe."

Mr Johnson argued that under the new deal, Britain would have a stable and successful relationship with the EU. “Gaining freedom is a fantastic thing…. But it's how we use it, how we make the most of it, that's going to matter in the months and years to come, ”he said.

The Prime Minister said both sides had compromised throughout the process to move the talks forward and thanked the negotiators for their efforts over the past few months.

In a separate press conference on Thursday afternoon, European Commission President Ursula von der Leyen described the deal as “fair” and “balanced” and said the EU would continue to work with the UK on areas of mutual interest, such as climate change , Energy, security and transport. "Together we still achieve more than separately," she said.

With the UK transition period ending December 31st, UK MPs have been told that they are expected to hold an emergency Commons meeting on December 30th.