02 March 2018•Update: 02 March 2018
By Muhammad Mussa
LONDON
Prime Minister Theresa May on Friday conceded that the U.K. would have limited access to the single market once it left the bloc.
In a speech at the Mansion House in central London, broadcast on Sky News, the British premier outlined her latest strategy for the upcoming Brexit negotiations.
"We are leaving the single market. Life is going to be different. In certain ways, our access to each other's markets will be less than it is now. How could the EU's structure of rights and obligations be sustained, if the U.K. -- or any country -- were allowed to enjoy all the benefits without all of the obligations?" she said.
May said that the U.K. would work on a "customs arrangement", implying that the U.K. would also leave the Customs Union.
"The next hard fact is this. If we want good access to each other's markets, it has to be on fair terms. As with any trade agreement, we must accept the need for binding commitments," she added.
"Even after we have left the jurisdiction of the ECJ [European Courts of Justice], EU law and the decisions of the ECJ will continue to affect us," said May, addressing what has been a contentious issue in the U.K.
Regarding the border between Northern Ireland and the Republic of Ireland -- another issue that has sparked numerous debates -- May once again confirmed her commitment to having no hard borders after Brexit.
She instead referred to two proposals based on a "customs partnership" and a "highly-streamlined customs arrangement" that would apparently see trade progress as "frictionless" as possible.
The prime minister, however, said she wanted the U.K. to remain part of certain EU agencies such as the European Medicines Agency and the European Chemicals Agency, adding: "We would, of course, accept that this would mean abiding by the rules of those agencies and making an appropriate financial contribution."
"So my message to our friends in Europe is clear. We know what we want. We understand your principles. we have a shared interest in getting this right. Lets get on with it!" May said.
The EU will set out its own negotiating guidelines on a post-Brexit trade agreement next week.
