EU envoys hope for a Brexit trade deal in days, London sees progress

European Union diplomats said on Thursday they hoped a Brexit trade deal with Britain could be agreed by Friday or at the weekend, and EU officials said negotiators were likely to review progress in the next two days.

A British minister said he believed “good progress” was being made at talks but cautioned that London would not sign up to a deal that was not in its interest.

Britain leaves the EU’s orbit on Dec. 31, when a transition period of informal membership ends following its official departure last January, and the sides are trying to secure a deal to govern nearly $1 trillion in annual trade.

The suggestion by several officials in the EU that the negotiators will soon review overall progress is widely seen as a positive sign after weeks of impasse over three main issues -- fisheries, economic fair play and settling disputes.

Three EU diplomats said they hoped the negotiators - the EU’s Michel Barnier and Britain’s David Frost - could seal a deal as soon as on Friday or at the weekend, signalling the next 24-48 hours will be crucial.

The negotiators are seeking a deal to uphold free trade between Britain and the 27-nation EU from the start of 2021, but there have been several false dawns in recent months when talk of progress failed to lead to a deal.

Failure to secure a deal would clog borders, worry financial markets and disrupt supply chains as the world tries to cope with the vast economic cost of the COVID-19 pandemic.

“It’s the time to hold our nerve and trust (Barnier). And I believe if we do that, there’s a good chance that we can get a deal across the line in the next few days,” Irish Foreign Minister Simon Coveney told Ireland’s Newstalk Radio.

“There will be no further extensions. There will be no extra time.”

British Education Secretary Gavin Williamson mixed optimism and caution in comments to Sky.

“I’m confident from what I hear that progress, good progress is being made but we’re going to do a deal that is right for Britain, if such a deal is available,” he said. “If such a deal isn’t available then we’re not going to sign up to something that is to our detriment.”

Each side blames the other for the failure to secure a deal yet after months of talks.

Coveney said he believed Britain wanted a deal but said Prime Minister Boris Johnson’s government did not always act as if it did, citing planned finance legislation that would allow Britain to undercut parts of the 2020 Brexit divorce treaty.

“That’s hardly consistent with a government that’s looking to build a positive partnership and a future relationship with its close neighbour in the EU,” Coveney said.

An agreement means “finding a way to get a fair deal for both sides on fisheries, which has proven really, really difficult,” he said. There is a good chance that the European Union and Britain could strike a Brexit trade deal within days, Ireland said on Thursday, as the two sides race to avoid a turbulent climax to the Brexit divorce in less than four weeks.

The United Kingdom leaves the EU’s orbit on Dec. 31, when a transition period of informal membership ends following its formal departure last January, and the sides are trying to secure a deal to govern nearly $1 trillion in annual trade.

“It’s the time to hold our nerve and trust [EU chief negotiator] Michel Barnier. And I believe if we do that, there’s a good chance that we can get a deal across the line in the next few days,” Irish Foreign Minister Simon Coveney told Ireland’s Newstalk Radio.

“There will be no further extensions. There will be no extra time.”

The negotiators have been going back and forth for weeks over three main issues that remain unresolved: fisheries, economic fair play and settling disputes.

Failure to secure a deal would snarl borders, spook financial markets and disrupt delicate supply chains that stretch across Europe and beyond -- just as the world grapples with the vast economic cost of the COVID-19 outbreak.

British Education Secretary Gavin Williamson said good progress was being made that but Prime Minister Boris Johnson’s government will not sign up to a deal that is not in Britain’s interest.

“I’m confident from what I hear that progress, good progress is being made but we’re going to do a deal that is right for Britain, if such a deal is available,” Williamson told Sky. “If such a deal isn’t available then we’re not going to sign up to something that is to our detriment.”

Ireland’s Coveney said he believed Britain wanted a deal though its government did not always act as if it did, citing a planned British finance bill that would allow Britain to undercut parts of the 2020 Brexit divorce treaty.

“That’s hardly consistent with a government that’s looking to build a positive partnership and a future relationship with its close neighbor in the EU,” Coveney said.

An agreement means “finding a way to get a fair deal for both sides on fisheries, which has proven really, really difficult,” he said, adding that fair competition and governance were the two other main issues left.