The UK brought down the curtain on 47 years of membership of the European Union on January 31st 2020, but the Brexit process triggered by the 2016 referendum is far from over. The UK and EU are now in a race against time to negotiate new arrangements for co-operation on a broad range of areas, including trade, fishing, data sharing and security, before the end of a standstill transition period on December 31st 2020. Failure to agree the so-called future relationship in time could mean severe disruption and economic uncertainty on both sides.