Hammond and Fox wrote in the article, that a time-limited interim period must be established to ensure proper Brexit.
"During this period our borders must continue to operate smoothly; goods bought on the internet must still cross borders; businesses must still be able to supply their customers across the EU and our innovative, world-leading companies must be able to hire the talent they need, including from within the EU," the article read.
The ministers added that once this transition period was over, "we want a permanent, treaty-based arrangement between the UK and the EU which supports the closest possible relationship with the European Union, retaining close ties of security, trade and commerce."
In June, Fox said that the UK government expected the Brexit transition period to finish until the next general election scheduled for 2022.
The United Kingdom and the European Union have until March 2019 to conclude Brexit negotiations, which, among other issues, will decide the fate of the existing trade arrangements and the United Kingdom's access to the EU single market.