Cyprus News Agency

A draft declaration prepared by London and Brussels ahead of the UK-EU summit on May 19 points to "a shared understanding" on a range of mutual interests.

EU ambassadors will meet in Brussels on Wednesday to be briefed by officials working on areas where agreements might be reached within the next year.

A defense and security pact for closer cooperation on Ukraine, alongside migration—a hot topic on both sides of the Channel—tops the agenda.

The French are determined to impose new regulations on fishing, but diplomatic sources say no changes are expected for now.

Several EU capitals are pushing for a "youth experience" program that would allow EU citizens to stay in the UK for at least 12 months under a reciprocal visa scheme without being counted in immigration statistics.

The carefully crafted draft declaration is intended to serve as a political statement and framework for discussions on various issues.

The draft states: "We reaffirmed our shared principles on safeguarding global economic stability and our mutual commitment to free and open trade." It also adds that the parties will continue working on "how to mitigate the impact of fluctuations in the global economic order."

However, the summit comes as the UK continues tariff negotiations in the hope of a special deal with the US. Britain is facing a 10% tariff, while the EU faces 20%.

Ahead of her meeting with UK Prime Minister Keir Starmer last week, European Commission President Ursula von der Leyen called for an initiative to unlock investment in renewable energy in the North Sea.

After the meeting, von der Leyen said, "We are friends. And we are Europeans. That means we share interests and democratic values. And as like-minded partners, we are ready to face global challenges."