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German companies are shifting their investments from Britain because of secession
The German Federation of Chambers of Industry and Trade said on Monday that many German companies began to transfer their investment from Britain in anticipation of increasing trade barriers after the exit of Britain from the European Union.
In a joint statement, the Federation of Chambers of Commerce and Industry in Germany and the UK Chambers of Commerce called on EU and UK negotiators to convey a message of clarity and reassurance to trading companies across Europe in their negotiations over Britain's exit from the EU.
"Companies are very concerned that Britain's exit from the EU will have a significant negative impact," said Martin Vanselben, chief executive of the Federation of German Chambers of Commerce and Industry. "This secession could result in more bureaucracy, more waiting periods and tougher border restrictions, Costs.
"The terms of separation are still not entirely clear. Many of our members say they are already moving investments from Britain in anticipation of these obstacles. "
British officials are arriving in Brussels on Monday to push the EU toward talks on relations after Britain's secession, which the EU refuses to do without first agreeing on Britain's exit bill and other secession issues.
British Prime Minister Teresa Mae faced pressure to reverse her position that "the absence of a British disengagement agreement is better than a bad deal" since the ruling Conservative Party lost its majority in parliament in a June election.
http://economy-news.net/content.php?id=8825
The German Federation of Chambers of Industry and Trade said on Monday that many German companies began to transfer their investment from Britain in anticipation of increasing trade barriers after the exit of Britain from the European Union.
In a joint statement, the Federation of Chambers of Commerce and Industry in Germany and the UK Chambers of Commerce called on EU and UK negotiators to convey a message of clarity and reassurance to trading companies across Europe in their negotiations over Britain's exit from the EU.
"Companies are very concerned that Britain's exit from the EU will have a significant negative impact," said Martin Vanselben, chief executive of the Federation of German Chambers of Commerce and Industry. "This secession could result in more bureaucracy, more waiting periods and tougher border restrictions, Costs.
"The terms of separation are still not entirely clear. Many of our members say they are already moving investments from Britain in anticipation of these obstacles. "
British officials are arriving in Brussels on Monday to push the EU toward talks on relations after Britain's secession, which the EU refuses to do without first agreeing on Britain's exit bill and other secession issues.
British Prime Minister Teresa Mae faced pressure to reverse her position that "the absence of a British disengagement agreement is better than a bad deal" since the ruling Conservative Party lost its majority in parliament in a June election.
http://economy-news.net/content.php?id=8825
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