November 22, 2018 / 10:45 AM / 21 days ago

EU, UK agree on draft future ties: document

BRUSSELS (Reuters) - The European Union and Britain expect an ambitious economic partnership after Brexit according to the text of a draft deal on future ties due to be endorsed by leaders on Sunday.

The text, seen by Reuters, said the EU and Britain “agree to develop an ambitious, wide-ranging and balanced economic partnership.

“This partnership will be comprehensive, encompassing a free trade area as well as wider sectoral cooperation ... will be underpinned by provisions ensuring a level playing field.”

The text said the post-Brexit relationship would respect “the integrity of the Union’s Single Market and the Customs Union as well as the United Kingdom’s internal market, and recognize the development of an independent trade policy by the United Kingdom beyond this economic partnership.”

The two sides reiterated they wanted to replace a provisional agreement preventing the return of extensive border checks on the island of Ireland with a permanent solution.

Reporting by Gabriela Baczynska and Jan Strupczewski; Editing by Janet Lawrence

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