Tuesday , August 16 2022

The most open sectors in the EU for Brexit without agreement


, said AFP.

Automotive industry

This is the sector where the compensation could be more important. The professionals often warned of the potentially catastrophic effects in a sector that employs almost 12.2 million people in the continent.

Around 10% of European automotive industry exports go to the United Kingdom, recall Vincent Vicard, economist at the Center for International Information Studies and Provision (CEPII).

In addition, the UK and EU automotive industries are very integrated. "Sometimes some auto parts cross the border between the United Kingdom and the continent five or six times," explained Carsten Brzeski from ING Diba. Any disruption in the supply chain, such as the rolling of customs, would harm them.

Dirty divorce would have a particular impact on the Automobile Automobile industry, which has established well in the United Kingdom. "If our supply chain ends on the border, we will not be able to continue to produce in the UK," said Stephan Freismuth of the German BMW.


"In this sector, many German, French, Dutch or Belgian companies have" UK production sites, "says Brzeski. Therefore, it would have a special impact on the production chain.

In addition, international as the Anglo-Dutch group of Anglo-Dutch Shell or the Latin American American LyondellBasell also faces specific problems that are related to governing.

Agriculture and fishing

At present, its production covers only 60% of British food needs, the remainder is mainly imported from France, Belgium, Holland and Ireland.

If customs duties are reintroduced, the goods will be more expensive and may be delayed as they enter the United Kingdom. "We can imagine that trucks have been blocked in Calais and that the milk they transported to reach Dover," said Brzeski.

The access of many goods and animals could be excluded, unless it has registered in the United Kingdom in the list of authorized third countries. This registration could be made quickly, subject to conditions, to a former EU member.

Fishing could also be a problem for France, Spain, Portugal, Denmark or the Netherlands, whose fleets usually operate in British territorial waters.

Aircraft industry

The European airbuilder, Airbus, who produces his plane in different manufacturing sites across the EU, has already raised the alarm in the case of Brexit without agreement.

The European group, which employs nearly 15,000 people in the UK directly where it produces its devices' wings, has already warned that the sudden departure of the block will be. "disastrous" and power to question his investments in the country.

In July, German activist Tom Enders, Airbus expressed concern about the departure from the United Kingdom of the European Aviation Safety Agency (EASA). "From April, the certifications of thousands of aircraft pieces would no longer be valid, which could mean a cut in our production," he said.

The sudden incidence of air traffic between the United Kingdom and the continent makes it a particularly sensitive sector.

The European Commission wants to ensure that airlines can over the territory of Europe and that security certificates remain valid for a limited period. This requires a UK agreement.

Financial services

Operators placed in the United Kingdom will lose their right (financial passport & # 39;) to provide their services in the 27 countries of the non-existing block.

The Commission has already celebrated that many operators have done what is necessary to "modify their contracts and relocate" activities in the continent.

On Friday, the governor of the Bank of France called for keeping vigilance in the compensation sector, as a divorce without a "risk representative" agreement could be for the stability of the financial system.

British companies have almost a monopoly in this activity, keeping exchange accounts between financial agents in the world markets and ensuring transactions between all operators are implemented correctly.

Source link