The United Kingdom will be leaving European Union on 31st January, 2020. This follows the ratification of the Brexit bill approved by both the Houses of Commons and Lords by Queen Elizabeth on Thursday 23rd January, 2020.
Boris Johnson, the British Prime Minister, will mark the cut-off from the European Union with the issuance of commemorative coins and the chairing of a special cabinet meeting in England’s pro-Brexit North.
“At times it felt like we would never cross the Brexit finish line, but we’ve done it,” Johnson said after he had gotten both houses of the British parliament to ratify the withdrawal bill on Wednesday. Now we can put the rancour and division of the past three years behind us and focus on delivering a bright, exciting future.”
Analysts say Johnson is sacrificing the short term reality of a weaker United Kingdom economy to deliver on his promise of midwifing Brexit.
The United Kingdom will now face the task of negotiating trade deals with countries individually, a journey it already started with the UK-Africa summit which was attended by Nigeria’s President, Muhammadu Buhari.
Getting favourable trade deals from ex-colonies like Nigeria might not pose a serious problem, thanks to the United Kingdom export finance Scheme, which gives loans to importers in states like Nigeria to buy United Kingdom made products.
Britain is expected to find it hard to deal with the European Union, however, as it enters an extempore economic relationship.