- विज्ञापन -
London: The UK and the European Union have announced a sweeping new agreement expected to boost the British economy by nearly £9 billion (around $12.02 billion) by 2040, according to Downing Street.
Revealed ahead of the inaugural UK-EU summit in London, the deal marks what leaders are calling a “historic moment” in resetting the strained post-Brexit relationship. European Commission President Ursula von der Leyen described the pact as the start of a “new chapter.”
British Prime Minister Keir Starmer hosted von der Leyen and European Council President Antonio Costa, with all three hailing the agreement during a joint press conference, as reported by Xinhua.
A standout feature is a youth mobility scheme modeled after similar arrangements with Australia and New Zealand. Described as both “capped and time-limited,” the scheme aims to reestablish academic and cultural links. The two sides will also work toward the UK rejoining the Erasmus+ exchange program, which it left during the 2021–2027 cycle.
Von der Leyen emphasized that the new initiative will help rebuild long-term connections between young people across Europe and the UK.
The agreement also includes a sanitary and phytosanitary (SPS) deal to simplify trade in food and agricultural goods. It will eliminate many routine checks on animal and plant products, lowering costs, reducing bureaucracy, and improving access to EU markets for British exports like shellfish and meat products. Movement of goods between the UK and Northern Ireland will also be streamlined under the Windsor Framework.
“This deal cuts red tape and helps lower food prices,” said Starmer. “It makes a real difference to working families.”
In fisheries, the UK and EU agreed to a 12-year plan that maintains mutual access to fishing waters and retains existing quotas. The UK will invest £360 million to modernize its fishing fleet and technology.
Starmer noted the new arrangement replaces unstable annual negotiations with a longer-term framework. “With over 70% of our seafood sold to the EU, reducing trade barriers really matters,” he said.
The deal also outlines future cooperation on defense and security. It includes provisions for the UK to participate in the EU’s SAFE defense initiative, which supports joint military procurement. Details on funding and supply chains are still to be negotiated.
Travelers will also benefit. British citizens will regain access to eGates at EU borders, and law enforcement cooperation will be enhanced through improved access to Europol data and biometric tools.
Despite the broad praise, the deal faces political pushback. Conservative leader Kemi Badenoch vowed to overturn it if her party wins power, and Reform UK’s Nigel Farage criticized it as a “surrender” to the EU.
Some fishing industry representatives are also unhappy. The National Federation of Fishermen’s Organisations said the deal favors large exporters and supermarkets over independent fishers, calling it a strategic loss.
However, analysts say the overall economic benefits outweigh the criticisms.
“Fishing is more symbolic than significant economically,” said Iain Begg of the London School of Economics. “Cutting export barriers benefits sectors like defense far more.”
Commenting on the mobility scheme, Begg added that relaxed border controls will be welcomed by many Britons ahead of the summer holiday season.
While some see the agreement as the UK conceding ground, others argue it marks a mature and pragmatic step forward.
“Framing this as a win-lose situation misses the point,” said Steve Nolan, an economics lecturer at Liverpool John Moores University. “This shows both sides are ready to act as neighbors and partners again. In today’s fractured world, this kind of grown-up diplomacy matters.”
No fixed timeline has been set for implementing all aspects of the deal, but Starmer said follow-up negotiations will move forward “with the same pace and intensity.”
(1 British pound = $1.34)
