The European Union and the United Kingdom will end the post-Brexit transition period on 31 December as the United Kingdom does not want to ask for an extension, the joint EU-UK statement said Monday.
"The Parties noted the UK’s decision not to request any extension to the transition period. The transition period will therefore end on 31 December 2020, in line with the provisions of the Withdrawal Agreement," the statement read.
The document was released after a videoconference of UK Prime Minister Boris Johnson with President of the European Council Charles Michel, the president of the European Commission, Ursula von der Leyen, and the president of the European Parliament, David Sassoli.
The United Kingdom and the European Union agreed that new momentum was required in talks on their future relations.
"The parties agreed nevertheless that new momentum was required. They supported the plans agreed upon by chief negotiators to intensify the talks in July and to create the most conducive conditions for concluding and ratifying a deal before the end of 2020,” the parties said in a joint statement.
The UK said in February that it wanted to agree a trade deal with the EU by the end of June, while the EU needs the pact to be ready by November to have it ratified before the Brexit transition period ends on 31 December.
The United Kingdom left the European Union in January, completing a process that began with the Brexit referendum held in June 2016.
