Britain eyes trade deal with EU

BEIJING: British Finance Minister Philip Hammond said it is likely Britain will want to negotiate a bespoke arrangement for future trade deals with the European Union.

Speaking at a press conference in Beijing on Saturday with Chinese Vice Premier Ma Kai and Chinese Vice Finance Minister Shi Yaobin, Hammond said he expected that the United Kingdom would develop a trade deal that is not a "Canada model.

"Hammond, who is in China on an official visit, was referring to a deal similar to the one the EU agreed to last year with Canada.

Shi told reporters that China believes Britain and the EU are able to reach an agreement that is satisfactory to both sides.

The European Union agreed on Friday to move Brexit talks onto trade and a transition pact but some leaders cautioned that the final year of divorce negotiations before Britain´s exit could be fraught with peril.