London, November 21: The UK signed an interim trade deal with Canada on Saturday, the second major agreement the country has reached as negotiators hurry to cement trading relationships in preparation for life outside the European Union.

While Britain formally withdrew from the EU in January, it continues to trade with other countries under the bloc's umbrella during a transition period that is scheduled to end December 31. Also Read | UK to Buy One Million Doses of AstraZeneca’s Antibody Treatment.

Without a series of new bilateral agreements, trade with countries around the world may be hampered by barriers such as tariffs and increased paperwork.

The UK government says the stopgap agreement paves the way for future negotiations on a new tailor-made UK-Canada trade deal.

(This is an unedited and auto-generated story from Syndicated News feed, LatestLY Staff may not have modified or edited the content body)