Hello, I'm Eileen McKue with the BBC News. Britain and the European Union have signed a post-Brexit trade deal four and half years after the UK voted to leave the block. The agreement which will define their future relationship for decades is the result of months of sometimes tense negotiations. The British Prime Minister welcomed the deal, but he said the UK remained attached to Europe in many ways. Our political correspondent Rob Watson was listening to Boris Johnson's speech. His central message was, look, we promised to take back control of our laws, our borders and our money in 2016. If you look at it carefully, it's not really that in the sense that vote leave promise that you would have exactly the same benefits as membership of the single market if you voted to leave as if you stayed in. But for me, the interesting thing now we're going to find out whether Mr. Johnson and leavers are correct, whether the remainers, who warned of this being one of the biggest strategic mistakes that Britain had made since the second World War, are right.
The EU Commission Chief Ursula von der Leyen said the deal brought relief and a chance to leave Brexit behind. That sentiment was echoed by the Dutch MEP Liesje Schreinemacher. I think there's relief that we can finally have this period behind us. It's good that we can finally start focusing on the future. And I really like the fact that Boris Johnson also mentioned this in his speech, all the ways that we are still connected to each other in a cultural, historical, geographical, emotional way. And I couldn't agree with him more. The deal means that although the UK will leave the EU single market and customs union, trading goods will continue to be free from import taxes. However, exporters will need to comply with regulations in the market they are selling to, increasing red tape and costs. Our economics correspondent Andrew Walker explains the impact this will have.
In the very short term, there will be significant disruption with, for example, truck drivers not having all the necessary documents and business is simply not knowing, not really understanding at first what they need to do. But once we've got through those inevitable teething troubles, there will be some additional costs that businesses face and we'll get a flavor of how serious they are for businesses fairly quickly. The longer term picture of how this affect economic growth, particularly in Britain, we're looking at a process of several years in which economic growth would be a bit slower. Andrew Walker reporting. Under the terms of the deal, those wanting to cross the channel in either direction will now need a visa if they plan to stay more than 90 days. The British government says it will introduce a new point space system for immigration, which will put would-be migrants outside the EU on an equal footing with their European counterparts. You're listening to the very latest news from the BBC World Service.