Wednesday, 6 December 2017

German firms may reconsider UK links without Brexit clarity

German firms will reconsider their trade links to the UK if there is no clarity on a Brexit deal by March, the country's business lobby has warned.

Joachim Lang, head of the powerful BDI, told the BBC there was "a certain urgency" for companies that do business in Britain.

After meeting with the UK government, he said firms would need a year to brace for a "no deal" scenario.

The BDI recently asked its members to prepare for a "very hard Brexit".

"We cannot wait until March 2019, that's obvious," Mr Lang said, referring to the date on which Britain is due to leave the European Union.
"You need to be prepared, otherwise the damage will be much bigger, and in these contingency, plans, one year ahead - that's pretty normal, so we need decisions by March 2018."

"In certain sectors the damage is already close", he added, singling out German manufacturers that source important components from the UK.

Britain imports more goods from Germany than any other country, and exports more to Germany than any other European nation.

BBC      News.