Britain's Prime Minister Boris Johnson signs the Trade and Cooperation Agreement between the UK and the EU, the Brexit trade deal, at 10 Downing Street in central London on Dec 30, 2020. (LEON NEAL / POOL / AFP)

BRUSSELS / LONDON - British Prime Minister Boris Johnson signed the post-Brexit trade deal with the European Union on Wednesday, adding his signature to that of EU chiefs after the document was flown from Brussels to London.

“Have I read it? The answer is yes,” Johnson quipped.

The trade deal was announced on Dec 24, and sets out the terms of Britain’s new relationship with the EU following their divorce earlier this year. It will come into effect from Jan 1, replacing a transitional arrangement during which EU rules continued to apply to Britain.

Johnson’s Brexit deal cleared its first vote in parliament, putting the UK’s trade agreement with the European Union on course to become law within hours.

A video grab from footage broadcast by the UK Parliament's Parliamentary Recording Unit (PRU) shows teller Britain's Chief Whip Mark Spencer delivering the result of the vote on the third reading of the EU Future Relationship Bill in the House of Commons in London on Dec 30, 2020. (PHOTO / AFP)

Members of the House of Commons voted 521 to 73 to approve the accord after they were recalled from their Christmas break for an emergency session on Wednesday.

The House of Lords, the unelected upper chamber, will vote on the legislation later in the evening.

With the main opposition Labour Party backing the bill, the legislation is almost certain to become law in a single day, 24 hours before the UK leaves the EU’s single market and customs union. Failure to endorse the deal would have risked the return of costly tariffs on trade and severe disruption to supply chains.

Johnson, in a specially convened sitting of parliament, said he hoped to work “hand in glove” with the EU when its interests aligned, using Britain’s new-found sovereignty to reshape the British economy

Johnson, in a specially convened sitting of parliament, said he hoped to work “hand in glove” with the EU when its interests aligned, using Britain’s new-found sovereignty to reshape the British economy.

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“Brexit is not an end but a beginning,” Johnson said. “The responsibility now rests with all of us to make the best use of the powers that we regain, the tools that we’ve taken back into our hands.”

NEW CHAPTER

Earlier, against a backdrop of EU flags, top EU officials signed the treaties struck on Dec 24 to preserve Britain’s tariff- and quota-free access to the bloc’s 450 million consumers.

European Commission President Ursula von der Leyen, left, and European Council President Charles Michel show the signed EU-UK Trade and Cooperation Agreement at the European Council headquarters in Brussels, Dec 30, 2020. (JOHANNA GERON / POOL PHOTO VIA AP)

“It is of the utmost importance for the European Union and the United Kingdom to look forward, in view of opening a new chapter in their relations,” the EU said in a statement.

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Both the EU and UK said it was a chance to begin a new chapter in a relationship forged as Europe rebuilt after World War II, but which has often seen Britain as a reluctant participant in ever-tighter political and economic integration.

Britain formally left the EU nearly a year ago and the new partnership agreement will regulate ties from Jan 1 on everything from trade to transport, energy links and fishing.

After both sides have signed, the deal will be in place until the end of February, pending final approval by the European Parliament to make it permanent.

With Bloomberg inputs