UK Signs First Agreement with a European Union Country since Post-Brexit

UK Signs First Agreement with a European Union Country since Post-Brexit

Feb 13, 2023

UK Signs First Agreement with a European Union Country since Post-Brexit, the agreement with Italy aims at deepening the economic partnership.

An innovative memorandum of understanding, as defined by the two parties, i.e., a declaration of intent to use the Italian language, was signed between Italy and the United Kingdom in Rome.

It is the UK’s first bilateral agreement with the European Union member state since Brexit was implemented.

This is formally the launch of a new strategic dialogue for the promotion of exports and bilateral investments in the post-Brexit context between Italy and the United Kingdom, which saw the Minister of Foreign Affairs and International Cooperation Antonio Tajani at the negotiating table and UK Secretary of State for Business and Trade, Kemi Badenoch.

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The memorandum aims to deepen the solid economic partnership between the two countries, adapting it to the ‘post-Brexit’ context.
“This Memorandum – said Tajani, who is also vice president of the Council of Ministers – represents a platform of enormous potential for the promotion of our exports and our entrepreneurial excellence, with a view to shared growth and prosperity, in full compliance with the competences and our EU commitments.”

The agreement, signed in the Farnesina, aims to establish a structured mechanism of concertation and collaboration between companies, institutions, and bodies responsible for internationalization, with a focus on the most innovative sectors with high development potential, including the green economy, technologies advanced, life sciences, engineering and creative industries, start-ups, and innovation.

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Badenoch, for his part, said: “I am very pleased to be here in Rome to strengthen the UK-Italy trade relationship whose value exceeds £43 billion.

Trade ties with European countries are of paramount importance to us. This partnership will bring huge export and investment opportunities in the high-tech sectors of the future with strong growth prospects, helping to boost both our economies.”

Source: LondraItalia

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