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UK, German businesses want Brexit focus on common issues
31
Aug '17
With the third round of Brexit negotiations under way in Brussels, the British Chambers of Commerce (BCC) and the Association of German Chambers of Commerce (DIHK) have urged British and European Union (EU) negotiators to focus unambiguously on common economic interests, including customs arrangements, tax procedures and rights of workers from each side.

The leading German and UK business organisations have called upon politicians involved in the talks to build an environment of mutual trust and constructive dialogue and to deliver clarity and certainty for businesses across Europe, according to a recent BCC press release.

Uncertainty prevails across the European business community. A DIHK survey has revealed that the business outlook of companies engaged in trade with the United Kingdom (UK) is worsening because of the expectation of cost burdens from limits on free movement of workers, taxes, tariffs and increasing bureaucratic hurdles.

In a recent BCC opinion poll, a substantial majority of respondents wanted a transition period of at least three years. Both German and British businesses also want clarity at the beginning on the overall shape of the final settlement, the press release said.

The UK is the third-largest foreign market for German goods and Germany is the UK’s second-largest goods and services exports destination. German companies maintain about 2,500 branch offices in the UK, which employ nearly 400,000 workers. British companies have 1,200 branch offices in Germany, which employ about 220,000 workers. (DS)

Fibre2Fashion News Desk – India


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