The UK has also struck a defence pact with the EU, and both sides have agreed to continue talks on a youth mobility scheme.
But the Tories and Reform UK have blasted this as "freedom of movement by the backdoor".
Trade Secretary Johnathan Reynolds suggested earlier this morning any scheme would be capped and come with time-limits.
Speaking about existing schemes, he told Times Radio: “They’re limited. They’re targeted. It’s a sort of smart system.
"It’s not the kind of access people had when we were members of the European Union.”
He said: “I think last year, we issued, as a country about 24,000 visas for the various youth mobility schemes. So this is not immigration, it’s not freedom of movement. It’s something very different.
The Prime Minister has handed EU fishermen access to UK waters until 2038 in a dramatic last-minute Brexit “reset” deal, it is understood.
British boats face being pushed aside for more than a decade after the PM caved to EU demands for a 12-year fishing rights pact - more than double the current five-year arrangement.
In return, Brussels agreed to a permanent Swiss-style veterinary deal to cut border checks and boost trade - with Britain signing up to follow EU rules on plant and animal health.
This means UK food exporters will face fewer delays at borders, but at the cost of aligning with EU standards and accepting European Court of Justice oversight on those specific rules.
