Great Britain has launched the exit procedure. Brexit started at 14:20 Moscow time. The two-year period started after British Ambassador to the EU Tim Barrow delivered an official message from Theresa May. to Head of the Council of Europe Donald Tusk
The detailed plan for the UK-Brussels negotiations is expected to be presented at the EU summit on 29 April. Negotiations will start in May-June this year.
Law on exit from the European Union will be adopted by the British government in autumn. After that, all EU laws currently in force in the country will be limited by British law.
Negotiations with Brussels are scheduled to conclude in October next year. Then, until March 2019, a vote should be held on the results of the negotiations in the British Parliament, as well as in the European Council and Parliament. March 2019 is expected to be the month of formal UK exit from the EU. However, the terms of the negotiations can be extended if all 27 EU members agree to it.
The following key issues will be discussed during the negotiations
- Trade relations with the EU. Great Britain will leave the single market, but intends to conclude an agreement with the European Union on FTZs and revise the customs agreement.
- Rights of citizens. These are Britons living in the EU and citizens of other countries living in the UK.
- Brussels’s claim that Brexit will cost the UK £50 billion.
- Creation of the mechanism of trade disputes. It’s necessary because the UK will be out of the jurisdiction of the European Court of Justice.
- Continuation of EU-UK cooperation on security and data exchange issues.
- Transition deal. It may be necessary for the duration of the negotiations.