CorporateDispatch PRO Edition 16

Page 31

Corporate DispatchPro

Governing the EU-UK cooperation Talks between the EU and the UK have officially ended with the announcement of the trade pact, but that agreement itself created a new conversation. The two sides must now manage and drive forward their relationship based on that very deal and, on the first day of the year, a new dialogue mechanism was born. The Joint Partnership Council is a body with an equal share of representatives from both parts of the agreement as well as independent experts and is co-chaired by an EU official and a UK Minister. The system is not dissimilar to other arrangements between countries that have trade deals, such as the one between the EU and Canada. The structure is tasked with overseeing the trade agreement and its protocols, and discussing any issues arising from them. As a body, it is limited to the deal itself and does not provide a forum for any bilateral dialogue outside the remit of the signed pact. An incredibly complex setup, the main council is supported by nine other sub-committees, ten focused units, and four specialised working groups each monitoring a specific area of the EU-UK relation spelled out in the trade agreement. Now that the Court of Justice of the EU no longer extends influence over the UK, any trade disputes between the two sides will seek settlement through the newly-formed JCP. In most cases, disagreements are expected to pursue diplomatic resolution through the Council, but the deal empowers the partners to apply retaliation measures against one another – including the suspension of parts of the agreement – if one side feels that the other is not fulfilling its obligations. 31

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