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UK PM Johnson signs Withdrawal Agreement, paving way for Brexit

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UK PM Johnson signs Withdrawal Agreement, paving way for Brexit

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UK Prime Minister Boris Johnson has signed the EU Withdrawal Agreement, paving the way for Brexit to take place on January 31.

In what is considered a formality, the European Parliament will vote on the agreement on January 29. “The signing of the Withdrawal Agreement is a fantastic moment, which finally delivers the result of the 2016 referendum and brings to an end far too many years of argument and division,” said Johnson, referring to EU membership referendum four years ago.

How will Brexit affect Pakistan?

As Brexit is almost underway, questions regarding the future of Pakistan’s trade with the United Kingdom, and opportunities present in the exit, abound. While some exporters are optimistic or indifferent, others see dark clouds looming ahead. At $1.7 billion in 2018, as per the International Trade Centre, the UK is the third most important destination for Pakistani exports. Courtesy of the GSP Plus, products of Pakistan’s export interest are entitled to duty free treatment. 

Also Read: Britain’s parliament approved Brexit – but what next?

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