LONDON: Britain said Friday it was &quot;disappointing&quot; talks with Brussels to access a 150-billion-euro ($174 billion) EU scheme to bolster Europe&#39;s defenses had failed amid disagreement over the entry fee.&nbsp;European nations have scrambled to bolster their militaries since Russia&#39;s 2022 invasion of Ukraine, with Brussels launching its loan initiative earlier this year.&nbsp;The SAFE (Security Action for Europe) scheme will provide EU countries with 150 billion euros of loans at lower rates to help them rearm.&nbsp;London and Brussels had been wrangling over the level of contribution the UK would make to join the scheme, which would have allowed Britain to secure more lucrative access for its arms manufacturers.&nbsp;EU relations minister Nick Thomas-Symonds said in a statement it was &quot;disappointing that we have not been able to conclude discussions on UK participation in the first round of SAFE&quot;.&nbsp;But he noted the UK defense industry &quot;will still be able to participate in projects through SAFE on third-country terms&quot;.&nbsp;&quot;Our position was always clear: we will only sign agreements that are in the national interest and provide value for money,&quot; Thomas-Symonds added.&nbsp;EU countries are obliged to spend the loaned money on weapons that are at least 65 percent produced in the bloc.&nbsp;If Britain had joined, that figure would have been reduced for London meaning British firms could try to cash in more.&nbsp;Both sides said the negotiations had been conducted in &quot;good faith&quot;, with the European Commission also stressing that Britain can still participate in up to 35 percent of SAFE procurements.&nbsp;It added that talks with Canada about its participation continue &quot;and we hope to find an agreement before Sunday&quot;.&nbsp;EU officials previously said the bloc had asked London to contribute up to 6.5 billion euros to join the SAFE scheme.&nbsp;But Britain which left the EU in 2020 following its Brexit split baulked at that price tag and had pushed for a better deal, according to diplomatic sources.&nbsp;Poland, Romania, France and Hungary were among the biggest claimants for money under SAFE, when Brussels unveiled its funding allocations in September.&nbsp;Poland snapped up loan&rsquo;s worth almost 44 billion euros, followed by Romania on 16.7 billion, and France and Hungary on 16.2 billion each, according to preliminary figures.

United Kingdom

Britain and the EU failed to agree on UK access to the €150-billion SAFE defense loan scheme due to disputes over the entry fee. The UK called talks “disappointing” but can still join projects on third-country terms.

UK fails to reach deal to access EU defense scheme

Web Desk

ISLAMABAD: Pakistan&rsquo;s Deputy Prime Minister and Foreign Minister Ishaq Dar met the President of the European Union Council, Antonio Costa, in Brussels, where the two sides reviewed Pakistan-EU ties and agreed to broaden cooperation across key sectors.&nbsp;According to a statement issued by the Pakistan Foreign Office, &ldquo;Both sides noted with satisfaction the positive trajectory of the Pakistan-EU relationship and agreed to further strengthen this mutually beneficial partnership.&rdquo;&nbsp;Both delegations exchanged views on various areas of mutual interest, including the Generalized Scheme of Preferences (GSP) Plus, trade, the expansion of economic cooperation, and developments in regional and global security, reaffirming their steadfast commitment to multilateralism.&nbsp;The two delegations reaffirmed their commitment to multilateralism and agreed to work together to advance shared priorities.&nbsp;&ldquo;Both sides agreed to continue working together to advance common priorities and deepen cooperation across key sectors,&rdquo; the statement added.&nbsp;Pakistan&rsquo;s deputy PM was received by Foreign Secretary Amna Baloch, Pakistan&rsquo;s Ambassador Rahim Hayat Qureshi, and officials of the Pakistan embassy.&nbsp;The Foreign Office added that Dar expressed appreciation for the EU&rsquo;s support to Pakistan at both bilateral and multilateral levels.

Foreign Affairs

Pakistan’s Deputy PM Ishaq Dar met EU Council President Antonio Costa in Brussels, agreeing to strengthen cooperation across trade, security, and economic sectors. Both sides reaffirmed their commitment to multilateralism and advancing shared priorities for mutual benefit.

Articles tagged with "Brussels"

UK fails to reach deal to access EU defense scheme

Pakistan, EU vow broadening bilateral cooperation and partnership