EU-UK Trade and Cooperation Agreement—quick guide


Published by a UUÂãÁÄÖ±²¥ Public Law expert
Practice notes

EU-UK Trade and Cooperation Agreement—quick guide


Published by a UUÂãÁÄÖ±²¥ Public Law expert

Practice notes
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On 24 December 2020, the European Commission and UK government announced an Agreement in principle on the legal terms of the future UK-EU relationship. Provisionally applicable from 1 January 2021, and fully in force from 1 May 2021, the EU-UK Trade and Cooperation Agreement (TCA) includes terms on trade in Goods and services, economic and social co-operation, law enforcement and security co-operation, as well as overarching governance provisions.

The TCA is supplemented by a number of associated declarations and agreements including an Agreement on Security Procedures for Exchanging and Protecting Classified Information (SIA), plus a separate Nuclear Cooperation Agreement (NCA). It also contains a number of placeholders and commitments in respect of further agreements to follow.

Announced just one week before the end of the Brexit transition period at 11 pm on 31 December 2020 (IP completion day), the agreement came at the eleventh hour, leaving little time to put in place the necessary legal and practical arrangements to make the deal fully operational before the end of the Brexit transition period on 31 December 2020.

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Jurisdiction(s):
United Kingdom
Related legal acts:
Key definition:
Agreement definition
What does Agreement mean?

Agreement is broadly defined under EU and UK competition law so as to include activities ranging from a legally enforceable contract between two or more parties to an informal albeit clear understanding, whether entered into in writing or verbally.

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