EU and UK reach tentative agreement ahead of summit; British defence firms could benefit

The European Union and Britain reached a tentative agreement on defence and security, fisheries and youth mobility ahead of an EU-UK summit on Monday, paving the way for British firms to participate in large EU defence contracts, EU officials said.

Representatives of EU governments in Brussels received a text of a "common understanding" between Britain and the EU and the document is now being approved by all 27 EU governments, the officials said.