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The UK is expected to pay a fee to access a €150bn EU weapons fund as part of a broader defence and security pact set to be signed at a May 19 summit. This agreement necessitates a detailed bilateral deal for UK companies like BAE Systems to secure contracts under the Security Action For Europe (Safe) fund, which aims to bolster EU defence spending in light of security concerns. Negotiations are ongoing, with an emphasis on ensuring fair contributions and benefits, but the UK’s participation hinges on the specifics of market access and financial commitments.
