Britain has floated the idea of a technology deal with the EU to strengthen cooperation in Artificial Intelligence and other innovative sectors, as London works to rebuild post-Brexit relations with Brussels. UK business and trade secretary Peter Kyle said he discussed the possibility with EU trade chief Maros Sefcovic during a Brussels meeting focused on other bilateral issues. Kyle told a conference in the Belgian capital that there were significant opportunities for partnership, including a possible tech partnership.
Kyle said London’s large capital markets could help scale up technology firms capable of competing with American and Asian giants. “We are the spin-out capital of Europe. We are the unicorn capital of Europe,” Kyle later told reporters, referring to the creation of new companies and start-ups valued at more than ?bn. He added that Britain wanted to go further and would be more likely to achieve global reach by working with European countries and the European Union. Britain signed a similar, later-suspended, deal with the United States in September to align on innovation and encourage private-sector investment.
The proposed EU technology pact comes amid wider negotiations under the reset in relations promised by British Prime Minister Keir Starmer, who is seeking to stimulate Britain’s weak economy. Kyle met Sefcovic as the EU and UK prepare for a summit at a yet-to-be confirmed date, likely in July. Both sides hope to present agreements on food and animal safety standards, a youth mobility scheme, and the linking of their emissions trading systems, but talks have encountered roadblocks. Britain is said to want a cap on visas under the mobility scheme and to be reluctant to pay into some EU funds sought by Brussels. The EU, on the other hand, has been demanding greater access to British universities for its 18- to 30-year-olds, and for them to be allowed to pay the same tuition fees paid by local peers.
