EU-UK trade talks go on remotely

Construction work continues at the site of a lorry park being built between the villages of Sevington and Mersham, near the M20 motorway near Ashford in Kent, south east England on November 23, 2020, which will have the capacity to hold nearly 10,000 vehicles in the event of a no-deal Brexit. (AFP)
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Updated 24 November 2020
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EU-UK trade talks go on remotely

  • ‘The differences on the level playing field and fisheries remain major,’ sources say

BRUSSELS: British and EU negotiators on Monday resumed talks on their post-Brexit relationship via video-conferencing, with the focus still squarely on dividing up fishing quotas and ensuring fair competition for companies, including on state aid.

Face-to-face talks, suspended last week after a member of the EU delegation tested positive for the coronavirus, will resume in London “when it is safe to do so,” said a source who follows Brexit.

Another source, an EU official, added: “The differences on the level playing field and fisheries remain major.”

These issues are the key obstacles to clinching a new deal to maintain free, frictionless trade between the estranged allies after Britain’s standstill transition out of the EU following Brexit completes at the end of this year.

British newspaper The Sun reported at the weekend that the negotiators were looking at a review clause that would allow a renegotiation of any new fishing arrangement from 2021 in several years’ time.

An EU diplomat, a third source who spoke under condition of anonymity, confirmed that such an idea was under discussion, but added that the bloc insisted on linking it to the overall trade agreement, meaning fishing rights could only be renegotiated together with the rest of trade rules.

“We need to uphold the link between fishing and trade rules, this comes in a package,” said the person.

The EU official stressed that annual renegotiation of fishing quotas was still a no-go for the 27-nation bloc. Fisheries are a particularly sensitive issue for France.

Thierry Breton, the French representative on the European Commission, the EU executive, said last week: “We shouldn’t have in the Brexit deal revision clauses in one or two years, when everything would change again ... We won’t let that happen. We need to give our entrepreneurs predictability.” 


Saudi Arabia’s NDF unveils strategic partners for MOMENTUM 2025 conference 

Updated 07 December 2025
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Saudi Arabia’s NDF unveils strategic partners for MOMENTUM 2025 conference 

RIYADH: Saudi Arabia’s National Development Fund has unveiled the lineup of strategic partners for the Development Finance Conference MOMENTUM 2025, as the Kingdom accelerates efforts to build a more integrated development-finance ecosystem.  

The conference, scheduled for Dec. 9–11 at the King Abdulaziz International Conference Center in Riyadh, will bring together policymakers, lenders and global development institutions as the Kingdom seeks to expand financing channels for key sectors. 

Saudi National Bank and Arab National Bank are named Main Partners, while Riyad Bank will serve as Banking Partner, NDF said in a press release.  

Bank AlJazira and Saudi Awwal Bank join as Enabling Partners, and public-sector participants include Invest Saudi, the Made in Saudi Program, and the Saudi Conventions and Exhibitions General Authority. 

Riyadh Municipality also joins the list as the host city partner, while Saudi Post is the logistics partner for the conference. 

“Collectively, these partnerships advance the conference’s vision of fostering collaboration among public and private sectors, contributing to Saudi Vision 2030 objectives,” the release said. 

Organized by NDF, this year’s conference is convened under the theme “Leading Development Transformation.” 

MOMENTUM 2025 reflects the NDF’s central role as a principal enabler of development in the Kingdom and as a strategic driver of the national development finance system through its 12 affiliated development funds and banks.  

“Through this conference, NDF aims to align efforts, amplify impact, enhance coordination and integration, and build meaningful partnerships with leaders across the public and private sectors. Together, these efforts are intended to ensure sustainable growth and empower strategic sectors to deliver on national and global development goals,” the release added.  

The program will feature more than 100 speakers from over 120 local and international entities, further underscoring the conference’s role as a national forum supporting the leadership’s vision of building a dynamic financing ecosystem that empowers key sectors. 

Several princes, ministers, senior officials, CEOs, global leaders, development experts, and economists are scheduled to attend the conference. 

The event will spotlight the contribution of the private sector and small and medium-sized enterprises in elevating the Kingdom’s economic growth, generating jobs, and boosting competitiveness.