The summit was attended by European Commission President Ursula von der Leyen, European Council President António Costa and UK Prime Minister Keir Starmer.
The most important topic agreed upon by the parties was the Security and Defense Partnership. Taking into account current geopolitical conditions, this partnership will enable the UK to participate in the EU's SAFE program to support the defense industry. Through SAFE, the Commission aims to raise up to EUR 150 billion for member states to invest in joint procurement projects. Through this mechanism, the UK will be able to participate in defense procurement processes with EU member states.
The Agreement also allows UK companies to participate in joint procurement processes carried out by EU member states, and it was stated that this cooperation will provide a higher level of interoperability between allied countries and contribute to reducing costs.
Deciding to cooperate in the field of energy and climate, the parties announced that they will reach an agreement on the UK's participation in the EU's electricity market. The two sides will also try to integrate their emissions trading systems. This integration could enable mutual exemptions under the Carbon Border Adjustment Mechanism.
The leaders thanked each other for the constructive engagement during the summit and reiterated their commitment to maintain the new momentum in the relationship. It was also announced that bilateral summits at the leaders' level will be held annually from 2025.
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