However, he also acknowledged that the EU`s current position on fisheries needs to change. „There will be no agreement if the EU does not recognise the reality,“ said a British government source close to the negotiations. We will only talk if there is movement, and we think there is meaning. But it is worth remembering that fishing is only a tiny fraction of the total ECONOMY in the UK (less than 0.1%) I did it. and in the EU (some landlocked countries do not have fishing fleets at all). Irish fishermen, in particular, fear what might happen if they discover, as an EU Member State, that they can no longer fish in British waters, where they currently land 34% of their total catches, including 64% of their mackerel and 43% of the shrimp they take, the largest of the two species caught; In the short term, one estimate is that the loss of access to British waters would make half of the Irish fishing industry redundant, which is already suffering from pressure from its British competitors, which have been able to significantly reduce their costs. In the long run, EU vessels could turn to Irish waters as rich as those of the UK to make up for the losses, and between their larger numbers and the increase in quotas under the CFP, Irish fishermen fear that stocks will soon be seriously depleted.  Michael Creed, Ireland`s Minister for Agriculture, Food and Marine until June, said it would be „Calamian“ for the country`s fishermen not to be able to retain their fishing rights in British waters under a Brexit deal.  Like many others, we are reviewing the text of the draft EU/UK withdrawal agreement to understand its impact on the future of the UK fishing industry.
On the face of it, we believe that this is an extremely important first step towards a new future for the United Kingdom as an independent coastal state, which was denied to us 40 years ago when the United Kingdom signed the Common Fisheries Policy. But this is only the first step. There are other challenges in establishing genuine access and quota regimes, which are compatible with this new status. With negotiations still ongoing in July 2020, the UK and Switzerland have begun their own negotiations for a joint financial services agreement, with the UK finding that Swiss stock market regulation is equivalent to its own regulation one year after the EU expires its own provision.  The two nations will begin talks in September and assess where they are in early 2021. The Chancellor of the Exchequer, Rishi Sunak, described the agreement as proof that the regulatory differences were not exactly the same to achieve equivalence, while respecting the traditions and sovereignty of individual countries.  But the EU wants access to its boats and says that obtaining a „fair agreement“ on fisheries is a precondition for a free trade agreement (an agreement without tariffs or goods taxes between the two parties).