Commenting on the European Council’s endorsement of the transition period, and the progression of talks towards a future EU-UK trading relationship, Adam Marshall, Director General of the British Chambers of Commerce (BCC), said:

“Businesses will welcome the European Council’s endorsement of the transition period, and the progression of talks towards a future EU-UK trading relationship. Firms can now continue trading with a degree of confidence until the end of 2020, as the two sides work through the many practical questions which remain for the longer term.

“However, with one year to go until the UK’s formal exit from the EU, negotiators must redouble their efforts to find pragmatic and practical solutions to the many real-world questions firms face all across the UK – from product standards, to VAT, to customs, to immigration – businesses need answers fast. The onus is now on the UK government and the European Commission to deliver those answers.”