EU and UK to hold annual summits, draft statement shows
FILE PHOTO: Puzzle with printed EU and UK flags is seen in this illustration taken November 13, 2019. REUTERS/Dado Ruvic/Illustration
BRUSSELS - The European Union and United Kingdom will agree to hold annual summits to take stock of their bilateral relationship, according to a draft statement prepared for an upcoming summit in London seen by Reuters.
The EU and Britain are set to hold a summit in London on May 19, and the draft is the latest iteration of a joint text that leaders are set to agree at the gathering.
"We agreed that a stable foundation for our relationship is vital, and, in this context, we reaffirmed our commitment to the full, timely and faithful implementation of the Withdrawal Agreement, including the Windsor Framework, and the Trade and
Cooperation Agreement," according to the draft, referring to texts related to Brexit.
"We agreed to hold annual UK-EU summits to take stock of the bilateral relationship," said the text, dated May 6 and shared with EU delegations.
The draft outlines the two sides' view on global priorities, including continued support for Ukraine and an agreement to remain ready to exert pressure on Russia.
The EU and UK also said they recognised the shared challenge of irregular migration and that there is a need to address it with third countries.
"We also recognised the need to do more to secure our respective external borders, while remaining committed to ensuring international protection for those who need it," the draft said.
The draft noted that "we recognised the importance of transatlantic cooperation in addressing global challenges, fostering economic growth, and ensuring peace and security." REUTERS
Join ST's Telegram channel and get the latest breaking news delivered to you.
Hashtags

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles

Straits Times
26 minutes ago
- Straits Times
Italy plans to scrap no single buyer rule in Serie A TV rights sale
FILE PHOTO: Soccer Football - Serie A - Napoli v Sassuolo - Stadio Diego Armando Maradona, Naples, Italy - August 27, 2023 General view inside the stadium before the match through the television camera REUTERS/Ciro De Luca/File Photo MILAN - Italy plans to remove a ban on Italy's Serie A top flight soccer league selling its domestic broadcast rights to a single buyer, a draft government bill seen by Reuters showed, marking a major overhaul of media rules for live sports events. Italy introduced the "no single buyer rule" to avoid creating a dominant player in the pay-TV sector in 2008, when it approved a law entrusting sport leagues to collectively sell the rights to screen live matches. Broadcasting rights are the main revenue source for Serie A clubs but they lag behind those of other major European national leagues. Under existing contracts expiring in the 2028-29 season, Serie A earns some 900 million euros ($1 billion) annually from sport streaming service DAZN and pay-TV firm Sky, with the former screening all of the games and Sky co-broadcasting some of them. That sum is roughly half of the annual domestic broadcasting revenue of England's Premier League, which has a 'no single buyer rule' in place. Germany's Bundesliga, which last year removed its 'no single buyer rule', pockets some 1.1 billion euros annually from domestic broadcasting licences, according to data compiled by UEFA. The Italian government also plans to introduce changes in the way Serie A distributes the TV revenue among clubs, raising to "above 50%" from the current 50% the sum which must be equally split among all clubs, the draft bill showed. Clubs which develop and field young Italian players will be also granted additional revenue.($1 = 0.8758 euros) REUTERS Join ST's Telegram channel and get the latest breaking news delivered to you.


CNA
an hour ago
- CNA
Britain's regulator says trading to start on private share platform this year
LONDON :Trading on Britain's new share platform for private companies can begin later this year, the financial watchdog said on Tuesday, after finalising rules for a market that regulators and the government hope will bolster the country's capital markets. The Private Intermittent Securities and Capital Exchange System (PISCES) will enable trading of shares in private companies. The first shares should be traded on the platform this year through a "sandbox", which allows regulators to test how it works before they finalise a permanent regime in 2030, the Financial Conduct Authority said. PISCES is designed to connect owners of fledgling unlisted companies who want to sell shares in their businesses with new investors keen to help those firms grow and scale up. "The new platforms will give investors greater access and confidence to invest in exciting new companies, while early backers and employees can sell up and invest again," Simon Walls, the FCA's executive director of markets, said in a statement. Emma Reynolds, the government's economic secretary to the Treasury, welcomed the announcement and said PISCES would boost UK capital markets and support economic growth. Operators such as the London Stock Exchange wishing to run a PISCES platform will have to apply to the FCA. Once approved, they will be able to run intermittent trading events, at which company owners can offer stock for sale at regular intervals, at prices they set, to new shareholders. PISCES could help small companies with limited experience of capital markets get on the radar of cash-rich and supportive investors, without undertaking a full-scale initial public offering. The concept of PISCES, however, has proven a tough sell in some parts of the UK industry. Bankers told Reuters this year that they fear hits to revenues and ultimately being bypassed in a booming market for private capital. Jack Shepherd, a partner with law firm CMS, said PISCES was an innovative attempt to revive the UK's capital markets. "But the question remains whether PISCES addresses a genuine problem in the market, without cannibalising companies that might otherwise have sought a listing on the Main Market or AIM," Shepherd said, referring to Britain's small-cap market. In response to feedback, the FCA said that, under its finalised rules it would, among other things, apply a 25 per cent threshold for identifying major shareholders, reduce the disclosure requirements for PISCES operators and companies, and give companies greater say over who can invest in them.

Straits Times
an hour ago
- Straits Times
Russia and Ukraine exchange sick and wounded prisoners of war
A Ukrainian prisoner of war looks on as he stands with others after a swop, amid Russia's attack on Ukraine, at an unknown location in Ukraine, in this handout picture released June 10, 2025. PHOTO: REUTERS KYIV - Russia and Ukraine said they exchanged an unspecified number of sick and wounded prisoners of war on June 10 under an agreement reached at peace talks last week in Turkey. The handover took place after an initial swop of prisoners under the age of 25 was conducted on June 9. "Today marks the first stage of the return of our seriously wounded and injured soldiers from Russian captivity. All of them require immediate medical attention. This is an important humanitarian act," Ukrainian President Volodymyr Zelensky said on Telegram, adding that exchanges would continue. "We are doing everything to find and bring back everyone who is in captivity," he said. An official Ukrainian video showed smiling prisoners of war leaving a bus at an undisclosed location, wrapped in flags of Ukraine or of their units. Many chanted "glory to Ukraine". Ukrainian prisoners of war hold hands and react after a swop, amid Russia's attack on Ukraine, at an unknown location in Ukraine, in this handout picture released June 10, 2025. PHOTO: REUTERS In a statement, Ukrainian military intelligence said most of the freed soldiers had serious injuries and illnesses including amputations, infections and trauma. It also said that due to security considerations, the exact number of those released would be announced only after the exchange process was completed. The defence ministry in Moscow said the Russians freed in the latest handover were currently in Belarus, which borders both the warring countries, and would be returned to Russia for medical treatment and rehabilitation. A Ukrainian prisoner of war reacts after a swop, amid Russia's attack on Ukraine, at an unknown location in Ukraine, in this handout picture released June 10, 2025. PHOTO: REUTERS Prisoner exchanges have been the only tangible result so far of peace talks between the two sides in Turkey, which resumed last month after a gap of more than three years but have failed to make progress towards a ceasefire. A thousand captives on each side were traded in a swop last month, the biggest of the war so far. At last week's meeting, the two sides also agreed to hand over the bodies of thousands of dead soldiers, but this transfer has yet to take place. REUTERS Join ST's Telegram channel and get the latest breaking news delivered to you.