*

Starmer and von der Leyen to meet in London

*

Deal covers defence, trade and fish

*

Lengthy fishing deal attacked by UK critics

*

Follow our live coverage of the summit here

(Updates paragraph 1-11)

By Kate Holton, Andrew MacAskill and Alistair Smout

LONDON/BRUSSELS, May 19 (Reuters) - Britain agreed the

most significant reset of ties with the European Union since

Brexit on Monday, removing some trade barriers and collaborating

on defence to help grow its economy and boost security on the

continent.

Prime Minister Keir Starmer, who backed remaining in the EU,

has bet that securing smoother access to Europe for UK visitors

and trade will drown out the cries of "betrayal" from Brexit

campaigner Nigel Farage when he agrees to closer EU alignment at

a summit in London.

But the deal contains political risk for Starmer as it

touches on sensitive issues including fishing rights, and many

of the agreements will require further negotiation.

The reset follows U.S. President Donald Trump's upending of

the post-war global order, which has forced governments around

the world to rethink ties on trade, defence and security, and

brought Starmer closer to France's Emmanuel Macron and other

European leaders.

Economists said the reset with the UK's biggest trading

partner could have a larger impact on its sluggish economy than

recent deals with India and the U.S., but its refusal to rejoin

the EU's single market or customs union will limit that.

"It's time to look forward - to move on from the stale

old political fights and to find common sense, practical

solutions that improve the lives of British people," Starmer

said on X.

At the heart of the reset is a defence and security pact

that will let Britain be part of any joint procurement, but

further agreement will be needed for British companies including

BAE, Rolls Royce and Babcock to take

part in a 150 billion euro ($167 billion) programme to rearm

Europe.

On fishing, British and EU vessels will have access to

each other's waters for 12 years - removing one of the UK's

strongest hands in any future talks - in return for a permanent

reduction in paperwork and border checks that has prevented many

small food producers from exporting to Europe.

Britain should also get access to faster e-gates for UK

travellers at EU airports.

In return, it has agreed to the outline of a limited youth

mobility scheme, with the details to be hammered out in the

future, and it is discussing participation in the Erasmus+

student exchange programme.

Starmer is due to meet with European Commission President

Ursula von der Leyen and European Council President Antonio

Costa to sign the deal on Monday morning, after the two sides

agreed the final details in the middle of the night.

HISTORIC REFERENDUM

Britain's vote to leave the EU in a historic referendum in

2016 revealed a country that was badly divided over everything

from migration and sovereignty of power to culture and trade.

It helped trigger one of the most tumultuous periods in

British political history, with five prime ministers in office

before Starmer arrived last July, and poisoned relations with

Brussels.

Polls show a majority of Britons now regret the vote

although they do not want to rejoin. Farage, who campaigned for

Brexit for decades, leads opinion polls in Britain, giving

Starmer limited room for manoeuvre.

But the prime minister and French President Emmanuel Macron

have struck up a solid relationship over their support for

Ukraine, and Starmer was not tainted with the Brexit rows that

went before, helping to improve sentiment.

Trump's unpredictable tariff programme has also prompted

governments to try to strike new trade deals to seek new export

economies.

Britain struck a full trade deal with India earlier this

month and secured some tariff relief from the U.S., while the EU

is seeking to forge trade deals with India and deepen

partnerships with Canada, Australia, Japan and Singapore.

Rather than seek a full return to a pillar of the EU

like the single market, Starmer sought to negotiate better

market access in some areas - a move that is often rejected by

the EU as "cherry picking" of EU benefits without the

obligations of membership.

Removing red tape on food trade will require Britain to

accept EU oversight on standards, but Starmer is likely to argue

that it is worth it to help lower the cost of food.

Agreeing a longer-term fishing rights deal will also be

opposed by the industry, by Farage, and by the opposition

Conservative Party who negotiated the original Brexit deal and

who labelled Monday's event as the "surrender summit".

($1 = 0.8958 euros)

(Writing by Kate Holton; additional reporting by Philip

Blenkinsop in Brussels; Editing by Aidan Lewis, Ros Russell and

Andrew Heavens)