EU chief negotiator Michel Barnier said the transition period will last from Brexit day on March 19, 2019 to December 31, 2020. During this transition period, Britain will no longer participate in the EU decision-making process but it will preserve the benefits and advantages of the single market and the customs union and will therefore be required to respect all European rules as EU member states do.

UK Brexit negotiator David Davis said the UK and EU intend to sign a draft agreement this December.