EU and UK are likely to connect for talks later in a final bid to agree on a post-Brexit trade deal.
Sources informed the international news agency that EU an agreement on fishing was close – but this was disputed by Downing Street.
The UK’s chief Brexit negotiator, Lord Frost, will hold more talks with his EU counterpart Michel Barnier. Prime Minister Boris Johnson will talk to European Commission president Ursula von der Leyen via phone.
As per the agreements, border checks and taxes will be launched for goods being traveled between the UK and the EU if a trade deal is not reached and ratified by the end of the year.
The British Chambers of Commerce has said that traders are unprepared for the changes that will come after the deal.
Mr. Johnson and Mrs von der Leyen has agreed to resume negotiations after trade negotiations were paused on Friday due to “significant differences” over three “critical issues”.
In a joint statement, they said fishing rights, competition rules, and how to enforce agreed rules were still causing problems, adding that a deal would not be “feasible if these issues are not resolved”.
EU sources recommended that a breakthrough in talks on post-Brexit fishing rules was close to being made.
Irish Taoiseach Micheál Martin described negotiations as being on a “knife-edge” and said he hoped “common sense prevails” to allow a trade deal to be struck.
“My gut instinct is that it is 50-50 right now. I don’t think one can be overly optimistic about a resolution emerging.”