French Finance Minister Burno Le Maire stated on Thursday that the trade deal with the UK should not result in a weaker European single market.
Britain is set to leave the European Bloc on January 31 after three long years of internal struggles. However, the most difficult part only begins, as the two sides have to reach a trade agreement within 11 months. European leaders asked for at least two years of negotiations, but UK Prime Minister Boris Johnson ruled out any attempt to extend the deadline beyond December 2020.
Le Maire admitted that he was hopeful that Britain and the EU would manage to strike the deal. Speaking on the sidelines of the World Economic Forum in Davos, Switzerland, the French official told Reuters:
“I am optimistic, but
the devil is in the details. The French government does not want to have any decision
that might jeopardize or weaken the single market.”
Also on Thursday, Paolo Gentiloni, European Commissioner for
Economic Affairs, said that the EU might do a trade deal with the post-Brexit
UK if London is ready to have good relations with the single market.
“We can't have zero tariffs and dumping together. We need a level playing field,” Gentiloni said.