LONDON — The UK formally announced its decision to leave the European Union on Wednesday following a historic referendum last June.
After triggering Article 50 of the Treaty on European Union, Britain now has two years to negotiate a way out.
The 27 remaining EU members will meet to discuss the withdrawal on April 29 before negotiations begin between Britain and the EU, according to BBC News.
When a draft deal is approved, it will be put to the European Council, which is comprised of the 27 leaders of the remaining EU nations.
If the deal is approved by at least 20 countries with 65% of the EU population, it will be ratified by the European Parliament and the UK will leave the EU.
However, if no deal is reached, negotiations could go on longer than the two-year time limit, but only if all 27 EU member agree to an extension.
The key points of negotiation will center on trade, law and immigration.
