Failure to approve a withdrawal agreement does not mean that there can be no agreement on a trade relationship in the future, but negotiations on a trade agreement in this case are likely to be even more difficult and likely to take longer. The negotiation of the CETA agreement between the EU and Canada took seven years and one year before provisional application. The Brexit Withdrawal Agreement, officially titled “Agreement on the Withdrawal of the United Kingdom of Great Britain and Northern Ireland from the European Union and the European Atomic Energy Community”[3][4], is a treaty between the European Union (EU), Euratom and the United Kingdom (UK)[5], signed on 24 January 2020, which sets out the conditions for the United Kingdom`s withdrawal from the EU and Euratom. The text of the treaty was signed on the 17th. October 2019[6] and is a renegotiated version of an agreement published six months earlier. The previous version of the Withdrawal Agreement was rejected three times by the House of Commons, leading Queen Elizabeth II to accept Theresa May`s resignation as Prime Minister of the United Kingdom and to appoint Boris Johnson as the new Prime Minister on 24 July 2019. This triggered Article 50 of the Treaty on European Union, which sets out the procedure for the withdrawal of a Member State from the Union and introduces a two-year countdown to withdrawal. The agreement defines the goods, services and associated processes. It argues that any goods or services lawfully placed on the market before leaving the Union may continue to be made available to consumers in the United Kingdom or in the Member States of the Union (Articles 40 and 41). Instead, it now seems likely that it will be addressed in the Withdrawal Agreement through new provisions based on the repealed Court, which would become the legal instrument by which EU law in the UK applies to the areas of law and period agreed in a Withdrawal Agreement, and this seems very likely. Whether or when the agreement will finally be ratified depends on the organisation of the political events of November and December 2019. Basically, the transition period can be extended by mutual agreement between the EU and the UK.

It should be noted that under the agreement, the duration of the transition period can only be extended once until 31 December 2022 and the UK and the EU must decide whether such an extension will take place by 1 July 2020. In practice, the EU is unlikely to appeal if the UK asks for an extension, so the ball will be in the UK`s court on this front. A Withdrawal Agreement requires a number of approvals before it can enter into force, which means that the final text must be approved towards the end of 2018 in order to have time to complete the approval procedures by 29 March 2019, when the agreement is due to enter into force. The Political Declaration foresees that the United Kingdom will be granted adequacy status before the end of the transition period until December 2020 and confirms that the European Commission will start the adequacy assessment as soon as possible after the withdrawal of the United Kingdom 6. What happens on the 29nd. March 2019 – Will the UK leave the EU or remain a member for the duration of the transition period? The United Kingdom and the European Union reached an agreement at the European Council on the withdrawal of the United Kingdom of Great Britain and Northern Ireland from the European Union. .