My dear Keir, this is a historic moment because it is the first ever EU-UK summit, and it is a success. And this is also thanks to your leadership. And I really want to thank you for the leadership also in the weeks and months of preparation and hard work to get to this excellent result.
We are turning a page. We are opening a new chapter in our unique relationship. This is the story of historical and natural partners standing side by side on the global stage, facing the same challenges, pursuing the same objectives, like-minded, sharing the same values, and thus we are looking for solutions that are beneficial for both our people and standing shoulder by shoulder when it comes to really getting to the solutions. I want to have a look at the Common Understanding, which is basically the roadmap that we have agreed on to follow after this Summit.
First, we have concluded our security and defence partnership. This will boost our cooperation in security and defence initiatives. There are lots of topics covered, for example, on the defence industry, but also military mobility, peace building, crisis management, or the countering of hybrid threats, just to name a few. And this is the first step towards UK participation in Europe's defence investment programme. We call it SAFE. It is EUR 150 billion of loans for joint procurement. This security and defence partnership opens the door towards the joint procurement. We need another second step, but this joint procurement we have discussed will increase our readiness, will close military gaps that we have and will increase – that is of most importance – our interoperability when our armed forces are going on missions together.
It will create new opportunities, of course, for our defence industries and, as I said, enable stronger, more coordinated support also for Ukraine. That is important, either through joint procurement of military capabilities that then are brought to Ukraine or for direct investment in Ukraine's defence industry. We stand united behind Ukraine's fight for survival and that we are strongly committed to a full and unconditional ceasefire leading to a just and lasting peace in Ukraine.
My second point is that I want to speak about what lies at the heart of our partnership, and that is the people. Millions of families and friendships are on both sides of the Channel. I am thinking back of my times as a student here in London. And from that experience, I know that the first place when you go abroad as a young person leaves an impression for life. You fall in love with the city and the country. And for the rest of your life, you are the best ambassador for that country. Therefore, I am so glad that we have agreed that we will have Erasmus+ for young people and that we will work towards a youth experience scheme, just about this experience. This will allow the next generation to once again live and study in each other's countries, and this will build friendships that will last a lifetime.
Turning to what connects us further, that is the topic of energy and joint climate goals. Today we have decided to explore the UK participation in the EU's electricity market. It is good for the stability of energy flows. It is good for our common energy security. Because we know that a bigger market will also be good for lowering the energy prices and it will attract more private investment because of the regulatory stability and predictability. We need to tap into the vast potential that the North Sea offers, specifically for renewable, cheap and homegrown energy. In addition, we are both committed to leading by example on the path to net zero. And that is why we have also agreed to work towards linking our emission trading system. A larger integrated system is a big step forward in decarbonisation and creates a level playing-field.
Today we also decided to facilitate trade flows of agri-food products between us and to work towards a common Sanitary and Phytosanitary area. It means more certainty and more stability for our farmers, food producers and fishermen and fisherwomen on both sides of the Channel. Safer food, with greater trust from consumers. Together with the Windsor Framework, this will bring additional benefits for Northern Ireland. It will further ease the movement of agri-food goods between Great Britain and Northern Ireland. Northern Ireland will continue to enjoy dual access to both the EU Single Market and the UK internal market. In addition, we have reached an agreement on fisheries. Ensuring reciprocal access to waters until 2038. This is so important for long-term stability and predictability. And we have agreed to preserve the historic tariff-free trade in steel products. Steel is a vital sector for both of our industries. So, this decision is great news.
Finally, on justice and migration. We are stepping up our cooperation to keep our citizens safe. That means more joint operational work, especially through Europol and seamless exchange of information. Because crime does not stop at borders and neither should our response. On illegal migration, we are joining forces to crack down on smugglers and traffickers – this is organised crime. Our goal is clear: We want to protect our borders and prevent further tragedies. Therefore, we are also stepping up our joint cooperation with third countries. As you know, we, on the European Union side, have made this one of our priorities and we welcome that the UK is joining us in this effort.
Dear Keir,
What we have agreed today is historic. It will make a real difference to people in the UK and across our Union. But the message we are sending to the world today is equally – if not more – important. It is a message that at a time of global instability – and when our continent faces the greatest threats it has for generations – we in Europe stick together. A strong EU-UK relationship is of fundamental importance to that – for our security, our prosperity and our shared destiny on this continent. This is what it is all about today. So, thank you for hosting us. It was a great Summit. And thank you very much for your leadership.
