The owner of the UK's EU trade deal, one of the largest supermarket chains, will reduce the pressure on prices.

The deal signed on Monday stipulates post-Brexit relations, including fishing rights, agricultural exports, trade, travel and defense.

Major business groups called the agreement a "leap forward" which made "real progress" and Morrisons CEO Rami Baitiéh said it would "relieve pressure on food prices."

However, other business groups say more still need to be done to help UK businesses, and the beautiful printing of the deal will be crucial.

"Using trade barriers with the EU will eliminate costs, complexity and delays in importing food from the African continent", Mr Baitiéh said.

He added: “As a fresh food manufacturer, we also welcome the prospects of the main export markets as our quality meat and fish become easier to use.”

A spokesman for ASDA said the agreement “has the potential to significantly reduce the cost and bureaucracy of fresh agricultural products we import from the EU and the goods we move to our customers in Northern Ireland every day.”

The spokesman added that they hope the deal will be completed “as soon as possible” to “provide the best possible benefits for client and household budgets across the UK”.

Some studies show that in recent years, more traditional Chinese tape festivals have promoted the price increase in food imports from the EU to the UK.

But while the retailer is one of the people who welcomed the deal, there is no guarantee that any savings will be made.

The price reduction will depend on the supplier's savings.

The deal was praised by the Federation of British Industry (CBI), the British Chamber of Commerce (BCC), the British Hospitality and Food and Beverage Federation (FDF).

"After the turmoil of the past decade, today's summit marks a leap in EU relations," said CBI CEO Rain Newton-Smith.

"Today's summit marks a turning point in UK/EU relations, which puts our trade relations at the forefront of partnerships," said BCC Director General Shevaun Haviland.

But, he added: "We can't stop here".

“This agreement must be the basis for our desire to build stronger business relationships.”

The Food and Beverage Federation CEO Karen Betts said the trade agencies were pleased to see the deal but urged the government to "work closely with the detailed industry."

“High-quality agreements will bring obvious benefits to consumers and businesses,” she said.

UK hotel CEO Kate Nicholls added that the agreement was positive news that “helps further increase access to high-quality, affordable food and beverages for businesses and consumers”.