Timing: is the marking of an event with respect to a reference origin, usually UTC.
Synchronisation: deals with understanding the temporal ordering of events produced by concurrent processes.

GNSS, and then Galileo, can be used to provide both services:
  • Timing: GNSS provides a direct and accurate access to UTC.
  • Synchronisation: Synchronisation between receivers at different locations can be established and maintained using GNSS reference time. In addition, a master clock synchronizes itself using the time provided by GNSS and redistributes this time to the slave clocks disseminated within the systems
(... section under finalisation ...)