(Sharecast News) - The UK and European Union have agreed a wide-ranging deal on trade and defence, it was confirmed on Monday, following months of negotiations.
Prime minister Kier Starmer, European Commission president Ursula von der Leyen and European Council president Antonio Costa announced the deal in London.

It was the first summit since Britain formally left the bloc in 2020.

The UK has agreed to open its fishing waters to EU boats for 12 more years, notably more than the five years originally offered.

However, in return for the politically-sensitive concession, the government was able to secure open-ended provisions to strengthen trade in food and drinks, including cutting the red tape introduced post Brexit.

A new sanitary and phytosanitary (SPS) agreement also means the UK can sell raw burgers and sausages back into the EU for the first time since 2020.

Together with a plan to link the UK and EU's carbon emissions trading systems, the government said the deal would make food cheaper, reduce red tape and contribute nearly £9bn of economic benefit by 2040.

Alongside the trade agreements, a security and defence partnership was also struck, which the government said "paves the way" for the UK defence industry to participate in Security Action for Europe, the EU's proposed new £150mbn defence fund.

Starmer called it a "win-win" deal, adding: "It's time to look forward. To move on from the stale old debates and political fights to find common sense, practical solutions, which get the best for the best British people."

Von der Leyen called it a "new chapter" in the EU's relationship with the UK.

The two sides also agreed that British holidaymakers should be able to use more eGates when travelling around Europe, and committed to co-operating further on a youth experience scheme, which would allow young people work and travel freely in Europe.

Summits will also be held between the UK and EU every year.

Conservative leader Kemi Badenoch called the deal "very concerning" and said she was "gobsmacked".

Business groups were far more supportive, however. Rain Newton-Smith, chief executive of the CBI, said: "After the turbulence of the last decade, today's summit marks a leap forward in the EU-UK relationship.

"Businesses do not need more politics, they need progress.

"The bleak global trading environment - from escalating geopolitical tensions to sluggish growth - has underscored the importance of deepening ties with trusted, like-minded partners."

Helen Dickinson, chief executive of the British Retail Consortium, said: "The removal of veterinary checks is good news for retailers and consumers alike. It will help keep costs down and create greater security in retail supply chains, ensuring the ongoing availability of key food imports for British shoppers."

This is the third deal Starmer has struck in recent weeks, following trade agreements with India and the US.

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