Evans Chamberlain Asset Management analysts say that, according to British Prime Minister Theresa May, the UK and the European Union are close to reaching a separation agreement. May has called on the European Union to show goodwill and persevere in order to ensure a close trading relationship in the future.

Before a recent informal summit in Austria, May showed no indication that she was willing to compromise on her Brexit plan, ignoring divisions within her own Conservative Party over her ideas for a future trade after Britain leaves the European Union.

Evans Chamberlain Asset Management analysts say that this will be the most significant policy adjustment for Britain in almost 5 decades.

Evans Chamberlain Asset Management analysts believe that May's exit plan is a good starting point but say that the European Union has shown strong resistance to May's plan for a future customs system.

With just more than half a year before the UK is due to exit the European Union, time is running out and May is eager to reach an agreement with the bloc before the end of this year in the hopes of minimizing worries of a disorderly exit which Evans Chamberlain Asset Management analysts say could have a devastating impact on the British economy.

The British Prime Minister recently stated that the two parties were close to reaching an agreement on the terms which would ensure an orderly exit and that this was the foundation for establishing a close relationship for future trade. May added that the UK has shown a willingness to compromise and that the European Union will need to do the same so that the two sides can find new ways to work together.