London, November 27: Michel Barnier, European Union Chief Negotiator on Brexit on Friday said that there are significant differences between the European Union and Britain on the Brexit trade-deal. The key differences are on three major aspects including fisheries, state aid and future dispute resolution in talks on a trade agreement, reported Reuters. Barnier travelled to London to make a last attempt to close a trade deal with Britain's Chief Negotiator,  David Frost . Boris Johnson Threatens to Leave EU Without Deal: What No-Deal Brexit Means and How It Will Impact UK-Europe Ties.

“Same significant divergences persist. Traveling to London this evening to continue EU-UK talks with (Britain’s chief negotiator) David Frost and his team,” Barnier tweeted.  European Union Chief Ursla Von der Leyen  had earlier said the the EU was ready for the possibility of Britain leaving the bloc without a new trade accord despite “genuine progress” in the tortuous Brexit talks. World News | EU Gives Upbeat Assessment of State of Brexit Trade Talks.

Britain formally left the union on January 31  this year, but has been in a transition period since then under which rules on trade, travel and business remain unchanged. Eu and Britain are in negotiations to strike a new-trade deal that will govern there trade relations, once the transition period is over.  The two are trying to strike a trade deal on goods that would safeguard nearly $1 Trillion in annual trade and ensure peace in British-ruled Northern Ireland.

(The above story first appeared on LatestLY on Nov 27, 2020 04:43 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).