The UK lost access to Europol after Brexit. The deal also gives the UK access to a €150bn EU rearmament financing instrument (SAFE) to strengthen support for Ukraine, crisis management, and protection against cyber-attack and other attacks.
Tom Saunderson, corporate partner at Browne Jacobson, said: ‘The potential economic implications are substantial.
‘By entering into this security agreement with the bloc, it opens the door for UK companies to gain access to contracts funded by SAFE. This will provide not just financial gains but also opportunities for the UK defence industry to expand, innovate and play a central role in the broader European defence landscape.
‘A defence pact represents a dual benefit for the UK—strengthening security ties with European neighbours while simultaneously tapping into new economic opportunities. This strategic move could redefine the UK's role in European affairs post-Brexit.’
On the exports and imports front, both sides drop sanitary and phytosanitary checks for food, wool, leather and timber, removing layers of cumbersome bureaucracy and cost.
The two sides will look at the UK rejoining the ERASMUS+ university programme and will work towards a visa for work, travel, study or volunteering.
While there has been no joy to date for professional services, Law Society president Richard Atkinson said the summit was ‘a welcome starting point.
‘Improving business mobility between the UK and the EU continues to be the key priority for the legal profession. We look forward to working with the government on a work experience scheme that would allow younger lawyers under 35 to train and work in the EU for up to three years.’
Atkinson urged a ‘substantive renegotiation’ of UK-EU recognition of professional qualifications.
