London, 13 Jul.- The United Kingdom announced that it will allocate 705 million pounds sterling (about 890 million dollars) to prepare its borders to trade with the European Union (EU), after the end of the Brexit transition period .
According to the conservative government led by Prime Minister Boris Johnson, the funds will be used to create the necessary port infrastructure, technology and jobs for when the country cuts off all the commercial ties that bind the European bloc at the end of the year. .
"On January 1, 2021, the transition period with the EU will culminate, and the United Kingdom will abandon the common market and the customs union, regardless of the agreement reached on future trade relations," said Cabinet Minister Michael Gove. .
The Withdrawal Treaty signed by London and Brussels contemplates that to materialize their exit from the European alliance on January 31 last, both parties would have 11 months to negotiate the new terms that will govern bilateral trade.
After four rounds of negotiations, there are still no glimpses of an agreement, but Johnson has already made it clear to his European counterpart that he will not extend the transition period beyond December 31, thereby risking having to trade with the EU under the aegis of the World Trade Organization.
"With or without an agreement with the EU, these £ 705 million will ensure the necessary infrastructure, technology and staff to enable our merchants and the border industry to manage change, and seize opportunities, while laying the foundation for the border more effective and safe in the world, ”said Gove .
More than half of that budget (about 690 million dollars) would be used to build customs facilities in the ports and surrounding areas, and the rest to prepare personnel and acquire the necessary technological systems.
"We are retaking control of our borders, and by the end of this year we will abandon the common market and the customs union, so we must be prepared for the significant changes and opportunities that will come," Gove said in a statement. (Text and Photo: PL)