London and EU agreement: in exchange for new fishing quotas, British arms manufacturers will be able to earn billions of pounds
Kyiv • UNN
Britain is close to an agreement with the EU that will open access to the EU's €150 billion defense fund for British arms manufacturers. In exchange, Britain has made concessions on fishing rights.
The British government is preparing a major trade deal with the EU that will allow UK arms companies to earn billions of pounds. In the context of the future global trade agreement, an agreement with EU countries on fishing quotas, in particular between France and Britain, may play an important role.
UNN reports with reference to The Times.
Details
The head of the British government, Keir Starmer, is "on the verge" of concluding a major trade agreement with the EU. Companies from the "Foggy Albion" will be able to apply for a new EU defense fund of EUR 150 billion. This became possible after Great Britain made significant concessions to Brussels regarding fishing rights.
The Prime Minister will hold an EU-UK summit on May 19 in London as he seeks to ease trade barriers with Brussels.
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According to The Times, Starmer spoke earlier this week with Ukrainian President Volodymyr Zelenskyy and Jonas Gar Støre, the Prime Minister of Norway, in which the British Prime Minister "reaffirmed his unwavering support for Ukraine."
Regarding the trade discussion, the following is stated - ‘leaders agreed that a trade war is not in anyone's interest.’ In this context, British negotiators have softened their position on fisheries, the publication writes. France had previously insisted that the defence pact was linked to a dispute over quotas for haddock, herring and cod catches.
British negotiators have accepted the EU's demands for a multi-year fish deal, the paper writes.
Reference
The current agreement expires in 2026. The previous agreement reached a quota under which European fishermen can fish in British waters for "up to 75% of pre-Brexit levels."
Future plans in the production and trade of weapons and technology
Starmer is expected to announce a £30 million deal for drones manufactured by New Zealand-based Syos Aerospace with a plant in Hampshire. Britain and New Zealand will begin work on a new defence partnership to replace the one signed in 2015.
Britain has also lobbied for inclusion in the Security for Europe (Safe) programme - a joint fund used by the EU to purchase ammunition, artillery, air defence equipment, missile launchers and unmanned aerial vehicles.
Previously, British companies such as BAE Systems and Babcock were excluded from the fund, while countries such as Norway, Moldova, South Korea, Japan, Albania and North Macedonia were included.
This was due to the fact that Great Britain had not then reached an agreement to sign a pact on defence and security with Brussels. However, amid growing cooperation with France on Ukraine, there is growing confidence in No. 10 that a defence pact will be signed, the publication writes.
