Canada, UK on brink of trade deal: Bloomberg News

(Reuters) - Canada and the United Kingdom are closer to signing a new trade agreement, which will replace the existing deal Britain has through European Union membership, Bloomberg News reported here on Wednesday.

An announcement could come as early as Thursday, the report added, citing people familiar with the matter.

The news comes a week after Canada’s Prime Minister Justin Trudeau said a trade agreement with Britain should be secured by the end of the year, although there was an issue that Britain might not have “bandwidth” to move forward with talks.

British trade minister Greg Hands on Tuesday also expressed his confidence in striking a trade deal with Canada by the end of the year.

Reporting by Maria Ponnezhath in Bengaluru; Editing by Ramakrishnan M.