Mr Johnson thanks people on all sides for "finding the philosophers stone" to get a deal.

He adds: "This deal above all means certainty, for the aviation industry, the hauliers... the police, the border forces, and all those that keep us safe.

"It means certainty for our scientists who will be able to work together on great collective projects.

"But above all it means certainty for business."

The PM says "for the first time since 1973 we will be an independent costal state with full control of our waters".

He says fishing communities will be helped with £100m to modernise their fleets.

On negotiations, Mr Johnson says: "Of course the arguments were sometimes fierce, but this I believe is a good deal for the whole of Europe.

"It will not be a bad thing in my view for the EU to have a prosperous, dynamic and contented UK on [their] doorstep."

There will be "mutual respect and mutual recognition".

Image source, PA Media

He says the deal will allow exporters to do even more business "with our European friends".

He says "the British people knew it was doable but were told it was impossible.

"We have taken back control of every jot and tittle of our regulation in a way that is complete and unfettered."

The jurisdiction of the European Court of Justice will come to an end he adds.

The PM begins by saying that earlier this year the government left the EU with "that oven ready deal".

Since then he says his government has been busy setting up a new immigration system and making new trade deals.

He says the UK has "completed the biggest trade deal yet".

We have just heard from the EU's chief negotiator, but now it is time for his UK counterpart.

Lord David Frost, who has been leading the team, says he is "pleased and proud" in their efforts to secure an "excellent deal".

Now the attention turns to UK Prime Minister Boris Johnson, who has has begun his press conference following a post-Brexit trade deal being agreed with the EU.

Stay with us for the updates and analysis.

Boris Johnson is due to follow Ursula von der Leyen and give his own press conference on the trade deal.

That's expected any minute, but in the meantime Downing Street have released a few pictures of Mr Johnson watching the EU side announcing the deal.

Image source, Andrew Parsons/No 10 Downing Street

Image source, Andrew Parsons/No 10 Downing Street

Michel Barnier says the deal will now be put to the European Council, bringing together the 27 governments of the bloc, and the European Parliament.

He says the "short time span" of negotiating the deal has been "unprecedented in terms of its scope and complexity".

And he says the EU has shown "unity and solidarity", which has been its strength.

"It has been a great honour for me to be part of this European unity," he concludes.

Chris Mason
Political Correspondent

Notice the tone and the vocabulary of the news conference at the European Commission.

It is markedly different from what we can expect from the prime minister.

There is talk in Brussels of "relief" but "sadness."

This, until now, was the club people only ever wanted to join, not to leave.

The UK, always the awkward uncle at the European Christmas party, has noisily wandered out, returning to collect its possessions a few times, but is now properly leaving the premises.

This is that moment, and it will prompt delight for millions here in the UK, and a resigned sadness from millions of others.

But the mood in EU circles is a mighty relief all the talking is over, but a sadness that the UK has gone.

Now the EU chief negotiator, Michel Barnier, is speaking.

He says: "The clock is no longer ticking."

Mr Barnier pays tribute to all the politicians, citizens and even us journalists for the part they played in negotiations.

He then adds: "Today is a day of relief, but tinged by some sadness as we compare what came before with what lies ahead."

"We are long standing allies," says von der Leyen

"We share the same interests - whether it be the COP26 summit in Glasgow of the upcoming UK G7 and Italian G20 presidencies.

She says the UK and EU will continue to stand "shoulder to shoulder"

European Commission President Ursula von der Leyen says: "This whole debate has always been about sovereignty.

"We should ask as ourselves what sovereignty means in the 21st century.

"It is about pooling our strength and speaking together in a world full of great powers.

"It is about pulling each other up in times of crisis instead of trying to get back to your feet alone.

"And the EU shows how this can work in practice."

The European Commission president starts to outline more detail of the plan.

Mrs Von der Leyen says competition rules "will be fair and remain so", promising EU rules and standards "will be respected".

She says "effective tools" have been agreed to "react if fair competition is distorted".

The UK and EU will "continue cooperating in all areas of mutual interest", she adds, such as climate change, energy, security and transport.

And she confirms five and a half years of "full predictability for fishing communities" has been agreed.

"Together we still achieve more than we do apart."

Mrs Von der Leyen says: "We have finally found an agreement

"It was a long and winding road, but we have got a good deal to show for it."

She adds that it is "fair" and "balanced", and it was "right and responsible" for the two sides to pursue it.

Chris Morris
BBC Reality Check

We knew there were last minute haggles about fish quotas and stocks. I think both sides desperately wanted to finish that off today and they have done.

We have a statement from Downing Street saying that everything the British public was promised during the 2016 referendum and last year’s general election is delivered by this deal.

We haven’t seen the text of the deal, we know it’s going to be hundreds and hundreds of pages long and there will be a lot of devil stuck in the detail but what we’re going to see I think over the next few hours is plenty of political spin coming out saying this is what we’ve achieved.

Certainly on the other side of the Channel, French and Dutch media have been told by officials on that side that the British have given in on a lot. That’s to be expected.

I think what we need to do is look at the detail of what’s in the deal.

The first of the press conferences has begun, and it is the EU up first.

European Commission President Ursula von der Leyen is joined at the podium with the bloc's chief negotiator Michel Barnier.

Chris Mason
Political Correspondent

How fitting that this final chapter should meander on for so long.

Santa is airborne and sprouts are being peeled.

But finally – after four and a half years – a deal is done and news conferences to announce it are about to happen.

Yes, really – no more delays.

We’ve waited for hours, weeks, months, years – now, finally, the shape of our relationship with our nearest neighbours is about to be set out.

EU Commission spokesperson Daniel Ferrie says European Commission President Ursula von der Leyen and the EU's chief Brexit negotiator Michel Barnier will hold a press conference in a few minutes.