Krautscheid zu Handelsabkommen

Cooperation Agreement between the EU and the United Kingdom

28 April 2021

The European Parliament today approved the Trade and Cooperation Agreement between the EU and the United Kingdom. This agreement is a vital element of the expected memorandum of understanding (MoU) on the financial sector: although final political approval is still pending, the ratification of the agreement creates a solid legal basis with the potential to speed up the process. 

“We see the green light from the European Parliament as a good sign: we welcome the ratification of the Trade and Cooperation Agreement. We finally have a sound basis for the future relationship between the EU and the United Kingdom. Such a basis is urgently needed for cooperation in the financial sector as well. The planned memorandum of understanding must be finalised and published in order to establish a financial dialogue and clarify market access issues. Further delay would be grossly negligent,” said Andreas Krautscheid, Chief Executive of the Association of German Banks.

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