MOSCOW (Sputnik) — The United Kingdom needs to employ logic of liberalization of services when negotiating Brexit, and secure mutually beneficial transitional agreements to avoid "dangerous cliff edges," UK Chancellor of the Exchequer Philip Hammond said Tuesday.
"When the British people voted last June, they did vote to leave the EU. And we will leave the EU. But it must be done in a way that works for Britain … Firstly, by securing a comprehensive agreement for trade in goods and services. Secondly, by negotiating mutually beneficial transitional arrangements to avoid unnecessary disruption and dangerous cliff edges. Thirdly, by agreeing frictionless customs arrangements to facilitate trade across our borders … And finally, by taking a pragmatic approach to one of our most important EU export sector – financial services," Hammond said during his early-morning Mansion House speech.
The chancellor called for a "smooth pathway" to the United Kingdom’s departure from the European Union.
"Our departure from the EU is underway. But ensuring that it happens via a smooth pathway to a deep and special future partnership with our EU neighbors, one that protects jobs, prosperity, and living standards in Britain, will require every ounce of skill and diplomacy that we can muster," Hammond added.
The Brexit negotiations officially started on Monday with a meeting between UK negotiator David Davis and EU representative Michel Barnier. The process should be completed within two years according to Article 50 of the Lisbon Treaty, that the United Kingdom evoked in order to leave the European Union.