The most important elements of the draft agreement are: The signatures mark a new stage in the ratification process after Parliament passed the Brexit Act earlier this week. The European Parliament will vote on the agreement on 29 January. On 22 October 2019, the House of Commons agreed, by 329 votes to 299, to give a second reading to the revised withdrawal agreement (negotiated by Boris Johnson earlier this month), but when the accelerated timetable it had proposed did not receive the necessary parliamentary support, Johnson announced that the law would be overturned.   The withdrawal agreement provides for a transitional period until 31 December 2020, during which time the United Kingdom will remain in the internal market to ensure the smooth flow of trade until a long-term relationship is concluded. If no agreement is reached by then, the UK will leave the single market without a trade deal on 1 January 2021. The withdrawal agreement is closely linked to a non-binding political declaration on future relations between the EU and the UK. On Monday 28 January, the House of Lords debated the Prime Minister`s written statement of 21 January 2019. In the statement, the Prime Minister outlined the government`s approach after the House of Commons voted against ratification of the EU negotiated withdrawal agreement. Immediately after the announcement of a revised withdrawal agreement on October 17, 2019, Labour, the Liberal Democrats and the DUP said they could not support the new agreement.  On 14 January 2019, the House of Lords ended its debate on the EU withdrawal agreement, in accordance with the EU Withdrawal Act 2018. The 599-page withdrawal agreement covers the main areas: European Commission President Ursula von der Leyen said that the centuries-old diplomatic cornerstone that "agreements must be respected" is "the basis for prosperous relations for the future." Although the UK officially left the EU in January, it continued to follow the rules established in Brussels during a transitional period - which will end on 31 December - while discussions on a long-term trade deal continue. The declaration on the future relationship between the European Union and the United Kingdom, also known as the Political Declaration, is a non-binding declaration, negotiated and signed at the same time as the mandatory and broader withdrawal agreement on the uk`s withdrawal from the European Union (EU), known as Brexit, and the planned end of the transition period.