After years of negotiations, the United Kingdom (UK) and European Union (EU) have reached a historic agreement on Brexit. On December 24, 2020, UK Prime Minister Boris Johnson announced that the two sides had agreed on a comprehensive trade deal, which will govern their future relationship after the UK officially leaves the EU on January 1, 2021.

The trade deal, which is over 1,200 pages long, covers a wide range of issues, including trade, security, fisheries, and cooperation on various areas. The agreement aims to provide clarity and stability for businesses and citizens on both sides of the English Channel, and prevent disruptions to trade and other activities.

Under the deal, the UK will have full control over its laws, borders, and waters, but will also have to abide by certain EU rules and standards to ensure fair competition. The two sides have agreed on a transition period, during which they will gradually implement the new rules and procedures over the next few years.

One of the most contentious issues in the negotiations was fishing, as the UK insisted on regaining control of its waters and reducing the access of EU boats to its fishing grounds. The trade deal provides for a gradual reduction of EU fishing quotas in UK waters over a period of five and a half years, after which the UK will have full sovereignty over its waters.

Another key aspect of the agreement is the preservation of the Good Friday Agreement, which ended decades of violence in Northern Ireland. The deal includes a protocol on Northern Ireland, which aims to avoid a hard border between Northern Ireland and the Republic of Ireland, and ensure that the region remains aligned with the EU`s single market rules.

Overall, the Brexit trade deal is a significant achievement for both the UK and the EU, as it provides a basis for cooperation and trade between two closely intertwined regions. However, the agreement is also complex and detailed, and its implementation will require significant effort and resources from both sides.

As the UK prepares to leave the EU, businesses and individuals should carefully review the new rules and procedures to ensure compliance and minimize disruption. The agreement also leaves many details to be worked out in the coming months and years, and it remains to be seen how the UK and the EU will navigate their new relationship in practice.