The United Kingdom and European Union agreed to a post-Brexit trade following months of negotiations, helping the economy recover amid the COVID-19 crisis. “Deal is done,” the Downing Street said in a statement on Thursday.

Prime Minister Boris Johnson called the agreement a “good deal” for the “whole of Europe”. He added that the deal signified “a new stability and a new certainty in what has sometimes been a fractious and difficult relationship.”

“We’ve taken back control of our laws and our destiny…from January 1, we are outside the customs union and outside the single market; British laws will be made solely by the British parliament, interpreted by the UK judges sitting in UK courts; and the jurisdiction of the European Court of Justice will come to an end,” Johnson said as quoted by CNN.

Johnson termed the deal “Canada-style” with its worth evaluated as £660 billion. According to the British PM, the UK has taken back “full control” of the fisheries business.

According to European Commission President Ursula von der Leyen, the EU managed a fine post-Brexit trade deal, adding that the they had the advantage in the negotiations.

“As we knew, in any case, if there would have been a hard Brexit, it would not have been good for both sides, but it would have hit the United Kingdom harder than the European Union with all its might of 450 million citizens. And therefore, from a position of strength we were able to come forward with the most comprehensive agreement we’ve ever had,” von der Leyen said at a news conference.