The UK must “face the possibility” that it will not concur a deal on its future relationship with the EU by the end of the year.

Chief arbitrator David Frost stated that with less than 6 months to go till the end of the transition duration, the UK must “continue preparing for all possible scenarios” for as soon as that due date passes.

In a declaration after the most recent round of talks in London, Mr Frost stated “considerable gaps remain in the most difficult areas” – the so-called equal opportunity and fisheries.

“We have always been clear that our principles in these areas are not simple negotiating positions but expressions of the reality that we will be a fully independent country at the end of the transition period,” he stated.

” That is why we continue to search for a deal with, at its core, a totally free trade contract comparable to the one the EU currently has with Canada – that is, a contract based on existing precedents.

“We remain unclear why this is so difficult for the EU, but we will continue to negotiate with this in mind.”

However he stated “despite all the difficulties” he still believed a deal might be reached in September.

“We will keep working hard to bridge the gaps and find a way through,” Mr Frost added.

EU arbitrator Michel Barnier stated the UK’s present positions on a number of problems imply a deal at this moment is “unlikely”.

“Over the past few weeks the UK has not shown the same level of engagement and readiness to find solutions respecting the EU fundamental principles and interests,” he stated.

Mr Barnier stated the “time for answers is quickly running out”, including: “If we do not reach an agreement on our future partnership there will be more friction.”

Britain left the EU at the end of January after 47 years of membership and is currently in an 11- month transition duration, which sees it continue to follow the bloc’s guidelines and guidelines.

This time frame is being utilized to work out a totally free trade contract and figure out the terms of the future relationship that will govern ties in between the UK and the EU in the future.

Prime Minister Boris Johnson has actually insisted he will not extend the Brexit transition duration beyond the end of this year, in spite of cautions that disturbance triggered by the coronavirus pandemic has actually made striking a deal difficult.

If the Brexit transition duration ends without a deal being struck, the UK will likely need to trade with the EU on World Trade Organisation terms from next year.

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