Log in
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Dynamic quotes 

MarketScreener Homepage  >  News  >  Economy & Forex

News : Latest News
Latest NewsCompaniesMarketsEconomy & ForexCommoditiesInterest RatesBusiness LeadersFinance Pro.CalendarSectors 
All NewsEconomyCurrencies & ForexEconomic EventsCryptocurrenciesCybersecurityPress Releases

Northern Irish Brexit issue is two-way street, says EU's Sefcovic

02/23/2021 | 01:36pm EST
FILE PHOTO: EU's Sefcovic speaks on an EU better regulation

BRUSSELS (Reuters) - Britain must show it is fully using the avenues available under the Brexit divorce deal to minimise trade disruption in Northern Ireland before seeking concessions, a senior EU official said on Tuesday.

Britain's exit from the EU's trading orbit in January has created trade barriers between Northern Ireland - which remains in the EU's single market for goods - and the rest of the United Kingdom.

Maros Sefcovic, a vice president of the European Commission, said he hoped to learn of British efforts during an online meeting on Wednesday .

"I was also reminding my British partners that this must be a two-way street," he told a news conference.

Sefcovic said real-time access to the IT systems of customs could smooth customs processes and a trusted trader scheme could ensure Northern Irish supermarkets were properly supplied.

"I hope that tomorrow... we will get feedback from our UK partners on how all these flexibilities and grace periods are being used because it's clearly a pre-requisite for the EU, the Commission and the member states to assess any further requests," Sefcovic said.

The EU's insistence on Britain honouring its withdrawal treaty has left the British province of Northern Ireland within the EU's single market and put a customs border in the Irish Sea dividing the province from mainland Britain.

Sefcovic said that there were inevitable consequences of Brexit so not everything could be resolved.

Members of Northern Ireland's two largest pro-British parties have said they are set take part in legal action challenging part of Britain's divorce deal.

However, Sefcovic said companies there might over time see the divorce arrangements as an advantage.

"Being in the single market and at the same time the internal market of the UK is actually a great business opportunity. And I hope that our joint work will amplify this possibility," he said.

(Reporting by Philip Blenkinsop. Editing by Mark Potter)

© Reuters 2021
Latest news "Economy & Forex"
03:57pU S DEPARTMENT OF TREASURY  : Statement from Secretary of the Treasury Janet L. Yellen on the U.S Senate's Vote on the American Rescue Plan
03:56pCHAMATH PALIHAPITIYA : Investor Chamath Palihapitiya confirms selling shares in Virgin Galactic
03:01pLocal Roads Connectivity Project - Additional Financing
03:01pAdditional Financing for Ethiopia COVID-19 Emergency Response Project
03:01pSocial Protection and Skills Development Project Additional Financing
03:01pWORLD BANK  : Second Additional Financing for Social Safety Nets in Comoros
02:26pU.S. CDC Reports Total Deaths Of 521,294 Due To Coronavirus As Of Yesterday Versus 519,064 In Previous Report On Mar. 5
02:25pU.S. CDC Says Delivered 116,355,405 Doses Of Covid-19 Vaccine As Of March 6 Versus 114,133,115 Doses As Of March 5
02:19pItalian government faces criticism over consulting contract with McKinsey over EU funds
01:59pJOURNÉES DE LA SOCIÉTÉ CIVILE : “Non seulement vert et digital, l'avenir de l'Europe devra aussi être démocratique”
Latest news "Economy & Forex"