According to media news report, the transitional period is set to last from 29th March, 2019 to December 2020, and is designed to smooth the path to the future permanent relationship.
The EU’s Brexit negotiator Michel Bernier reportedly said, the two sides had agreed on transition period, calling the announcement a decisive step. He spoke after meeting with the UK’s Brexit secretary David Davis.
According to media news report, Michel Bernier said, there was agreement on the rights of the EU citizens in the UK and the UK citizens in the EU after Brexit. Both UK and EU hope the terms of an agreement on the transitional period can be signed off at the EU summit this week, said media news report.