News
European Union Ratifies Brexit Trade Deal With UK

In a breakthrough update to The UK’s exit from the European Union, termed Brexit. The European Parliament overwhelmingly backed the post – Brexit trade deal with the British government whilst expressing evident mistrust of the British government.
In spite of the misgivings, the lawmakers cleared the Trade & Cooperation Agreement (TCA) by an overwhelming 660 votes to 5 votes, with 32 abstentions in a vote held on Tuesday and announced today. The European Parliament’s consent brings an end over four long years of bitter negotiations and heated debate over The UK’s severance of the 47 – year long relationship from the EU and its predecessor organisations, leading for misgivings among some quarters of the EU.
The European Commission President, Ursula von der Leyden said that, she warmly welcomed the vote and stated in a tweet, “The TCA marks the foundation of a strong and close partnership with the UK. Faithful implementation is necessary.”
The UK’s Prime Minister, Boris Johnson said that, this week was the final step concluding a long journey, providing stability to Britain’s fresh start with the EU.
“Now is the time to look forward to the future and to building a more global Britain.” He said in a statement.
The European lawmakers voted, in addition to the trade agreement, for a resolution in which they condemned the withdrawal of UK from the Union, a ‘Historic Mistake’ and decried the limited scope of the trade deal which, among other things, “vastly reduced” the opportunities for Britain’s largely service – based economy. They also, voiced strong disagreement over The UK’s unilateral change in the trading arrangements in Northern Ireland and urged the Commission to press on with legal charges.
Christopher Hansen, one of the lawmakers in charge of the agreements, stated that the vote was more of an insurance policy. He went on to comment, “Ratification of the agreement is not a vote of blind confidence in The UK government’s intention to implement our agreements in good faith.”
-
Banking & Finance3 weeks ago
Oman Arab Bank Announces Increase of Authorised Capital to RO500mn and Paid‑In Capital Boost of RO50mn
-
Renewables2 months ago
Jindal Renewables and OQ Alternative Energy Sign Joint Development Agreement to Advance Integrated Renewable Power Projects in Oman
-
Bahrain2 weeks ago
SPIEF 2025 focused on global and regional economic processes, market transformation, new tech, investment climate, financial policy and people
-
OER Magazines2 months ago
OER, May 2025
-
Alamaliktistaad Magazines2 months ago
Al-Iktisaad, May 25
-
Leaders Speak2 months ago
OERLive SPOTLIGHT: Oman Sustainability Week 2025 and Oman Petroleum & Energy Show
-
Banking & Finance1 month ago
Central Bank of Oman Issues Regulatory Framework for Digital Banks
-
Banking & Finance2 months ago
United Finance Company: Strategically Serving Oman’s Auto Market with Faster, Customer-First Solutions