In Johnson's vision for Britain's post-Brexit trade relations, the country will be unshackled after 47 years tied to the EU.
"We have so often been told that we must choose between full access to the EU market, along with accepting its rules and courts on the Norway model, or a free trade agreement, which opens up markets and avoids the full panoply of EU regulation, like the Canada deal," Johnson said earlier this week in a speech to business leaders in London.
"We want a comprehensive free trade agreement, similar to Canada's. But in the very unlikely event that we do not succeed, then our trade will have to be based on our existing Withdrawal Agreement with the EU," he said.
The prime minister said the choice for Britain is emphatically not a case of "deal or no deal", the question is whether Britain agrees a trading relationship with the EU comparable to Canada's -- or more like Australia's.
"And I have no doubt that in either case the UK will prosper," he said.
Canada and the EU signed in 2016 the Comprehensive Economic and Trade Agreement after seven years of negotiation. It is regarded as the most ambitious trade agreement that the EU has ever concluded with non-EU countries. Under it, import tariffs on most goods have been eliminated, though customs and VAT checks still remain. The flow of services, such as banking between the two sides are much more restricted.
Australia and the EU launched negotiations for a free trade agreement in June 2018, aiming at removing barriers to trade in goods and services while creating opportunities for small and large companies.
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