"Last June, the people of the UK made the historic decision to leave the EU. Next Wednesday, the government will deliver on that decision and formally start the process by triggering Article 50," Brexit secretary David Davis said in a statement Monday.
"We are on the threshold of the most important negotiation for this country for a generation," he added. "The government is clear in its aims: a deal that works for every nation and region of the UK and indeed for all of Europe -- a new, positive partnership between the UK and our friends and allies in the European Union."
In response, Donald Tusk, President of the European Council, tweeted that he would present draft Brexit guidelines to the remaining 27 EU member states withing 48 hours.
Tusk's spokesman, Preben Aamann , told CNN that the EU will require between four to six weeks to consult with the other 27 member states and hammer out an initial negotiating position.
The announcement comes a day after European Commission President Jean-Claude Juncker warned that other member states will "realize it's not worth leaving" the EU after they see the deal the UK gets.
The trigger day, which is next Wednesday, will come as the EU celebrates its 60th anniversary next week.
The loss of Britain to the bloc has created speculation that other states might decide to follow suit, something Juncker strongly disagreed with in an interview published on Sunday.
"They will all see from the UK's example that leaving the EU is a bad idea," Juncker told German newspaper Bild am Sonntag.
"On the contrary, the remaining member states will fall in love with each other again and renew their vows with the European Union."