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7/12, 3:42 PM (Source: TeleTrader.com)
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European Parliament backs association with UK

The European Parliament’s Brexit Steering Group "welcomed" Britain's proposition for an association agreement after the country's departure from the European Union. In a statement published on Thursday, the committee led by Guy Verhofstadt praised the United Kingdom's white paper as "a step towards establishing a new relationship."

Lawmakers in Brussels and Strasbourg have been calling for the future relationship to take the form of an association agreement "from the very beginning," the statement notes and highlighted the need for "a firm footing within a coherent governance structure" for economic, sectoral, security and foreign policy. The platform depends "on an orderly withdrawal," which itself is conditional on the so-called "back stop" for the border in Ireland and the integrity of the single market, parliamentarians said.

The announcement cites remaining issues of a credible dispute settlement mechanism and "the smooth registration of all EU citizens." There shall be "no space for outsourcing" the bloc's customs competences, the European Parliament warned.

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