The new Brexit deal that has been reached between the European Union (EU) and the British government is widely welcomed by the Irish side, reported local media on Thursday.

Ireland's national radio and TV broadcaster RTE quoted Irish Prime Minister Leo Varadkar who is currently in Brussels for the EU summit as saying that the deal reached earlier on Thursday protects the wishes of the people of Northern Ireland and also avoids a hard border between Ireland and Britain's Northern Ireland.

"It is a good agreement allowing the UK to leave the EU in an orderly fashion with a transition period which is very important for businesses and citizens across the EU and UK," he told RTE after the announcement of the deal reached.

He said that compromises had to be made to protect Ireland and the EU for securing the new deal and he was comfortable with the concessions which include compromises on a timescale and the consent issue as the deal fulfilled Ireland's objectives.

He declined to comment on a statement issued by the Democratic Unionist Party (DUP), a major political party in Northern Ireland, which said that the party will not support the new deal in the coming vote on it in the British parliament on Saturday.

Irish Deputy Prime Minister and Minister for Foreign Affairs and Trade Simon Coveney hailed the new deal as "a big step forward" that "protects the core Irish interests".

He made the comment while addressing the Irish parliament in Dublin.

Micheal Martin, leader of Fianna Fail, the largest opposition party in Ireland, said that he welcomed the new Brexit deal reached although he believed that it was "not ideal".

He told RTE reporters in Brussels that the new deal has offered economic reassurance and would avoid a hard border on the island of Ireland.

But he expressed concerns about the future impact on trade between Ireland and Britain when Britain leaves the EU Customs Union.

Michelle O'Neill, deputy leader of Sinn Fein, another major political party in Ireland, which also has political presence in Northern Ireland, told local media in Belfast that she welcomed the fact that a deal had been reached but said that her party needed time to digest the details of the new agreement.

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