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  • When London's iconic Big Ben strikes 11PM on Friday night,... the UK will officially

  • be out of the European Union.

  • It's been a long and complex farewell from Brussels, but some three-and-a-half years

  • after the historic referendum,.... the day has finally arrived.

  • After years of people asking "when Brexit?"....

  • now the question becomes "what's next after Brexit?"

  • Our Oh Soo-young reports from London.

  • Three and a half years after the UK narrowly voted to leave the European Union, Friday

  • closes the chapter on its 47-year membership of the regional bloc.

  • But that's not the end of the story.

  • The withdrawal agreement which goes into force at 11PM in the UK,... also marks the start

  • of what are expected to be long and gruelling trade negotiations.

  • The various sticking points include rules on regulatory standards, fishing, banking,

  • energy and transport.

  • But while the two sides slug out a deal,... a transition period takes effect.

  • This means current EU rules and standards on trade, freedom of travel, and business

  • continue to apply,... though the UK loses its voice in the bloc's institutions.

  • UK officials have expressed a willingness to start talks straight away.

  • But EU ministers must first agree on a motion to do that at a meeting in late February,

  • meaning the negotiations are likely to start in early March.

  • A UK-EU summit in June is expected to serve as a check on progress.

  • June is also the final month that the UK can ask the EU to extend the transition period

  • up to 2022.

  • However, British Prime Minister Boris Johnson has firmly ruled out that option.

  • Then, this means officials would have to draw up a proposal by late November

  • if they want to end the transition period with a viable agreement.

  • But is 11 months long enough to work out such a deal?

  • Brussels has made it clear it won't give the UK zero-tariff access to its single market

  • if it doesn't comply with EU regulations on the production and trade of goods.

  • At the same time, the UK has refused alignment with EU standards.

  • The disagreements are expected to complicate the negotiation process.

  • "I think what we'll see is an interim deal to make sure that by the end of the year there

  • is no that cliff edge and, and, and the UK doesn't leave without an agreement.

  • But I think that this would be only the first one of multiple agreements that would need

  • to be negotiated and signed in future years.

  • Not on any economics but also on political issues, possibly also on social issues, foreign

  • policy as well."

  • "The UK crosses the point of no return, but the future remains unclear for its ties with

  • Brussels... and the status of some 5 million citizens made up of EU nationals in the UK

  • and Brits in the EU.

  • The quagmire that is Brexit looks far from over.

  • Oh Soo-young, Arirang News, London."

When London's iconic Big Ben strikes 11PM on Friday night,... the UK will officially

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What comes after Brexit? UK leaves EU Friday

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    Courtney Shih posted on 2020/01/31
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