At a summit, the United Kingdom and the European Union announced a new phase in their relations.

• The UK and EU have concluded trade, defence, and mobility agreements at the first U.K.-EU summit since Brexit in 2016.

• The deal, described as a ‘win-win’ by UK Prime Minister Keir Starmer, grants EU access to U.K. fishing waters for 12 years.

• The UK will have greater access to EU plant and animal markets, but must align with changes to EU sanitary and phytosanitary regulations.

• The sides agreed to link the U.K. and EU’s carbon markets to avoid taxes on sectors like steel and cement.

• The U.K. and EU agreed to hold foreign and security policy dialogues every six months.

• The U.K. will participate in the EU’s €150 billion loan facility for defence procurement.

• Further talks on a student exchange programme and a youth mobility scheme will be held.