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Industry groups call for a clear and predictable transitional arrangement in the Brexit processWednesday, October 11, 2017
Brussels, 11 October 2017 – A group of industry associations representing global companies operating in both the EU and the UK urge the Brexit negotiators to agree on a business-friendly and efficient transitional arrangement between UK’s exit and a new deal. The American Chamber of Commerce to the EU (AmCham EU), BritishAmerican Business (BAB), the British Chamber of Commerce | Belgium & EU, the Trans-Atlantic Business Council (TABC) and UKTiE (The Voice of UK Transport in Europe) today issued a joint statement calling for a clear and predictable transitional arrangement to be agreed on as soon as possible. This would provide additional certainty for businesses and mitigate the potential negative economic impacts for companies.
In the joint statement, the associations argue that a transitional arrangement should allow for ongoing UK participation in the Customs Union and the Single Market. Business requires certainty on this as soon as possible as they are increasingly challenged by the regulatory and operational complexities as well as the economic risk associated with Brexit.
Justine Korwek, Head of Office for the Trans-Atlantic Business Council, said: ‘A business-friendly and efficient transitional arrangement for as long as is necessary from the date of Brexit would provide additional certainty for businesses. Negotiations for a future EU-UK trading relationship will be extremely complex and time is already limited. The value of transitional arrangements diminishes the later they are agreed and communicated, so moving forward quickly is essential.’