Friday, 24 June 2016
The British Chamber of Commerce in Brussels favours keeping the negotiation period on the means for Britain’s exit from the European Union as short as possible. “Stability is key for investors,” stated Thomas Spiller, the President of the Chamber, during a briefing today (Friday).
“Brexit was not our position, but the British population has spoken through the ballot box and we must, from now on, work out the next stages. It is very important that businesses very quickly get clarity on the matter. A strong political signal from both the EU and member states is thus fundamental,” said Mr Spiller.
To the Chamber, Europe and Belgium are on a par as business locations with the United Kingdom. “The fundamental principles still remain the same,” tempered Glenn Vaugan, the CEO of the Chamber of Commerce. “Belgium is the seventh largest export market for the United Kingdom. Economic relations between the two countries are still as vital as they were yesterday.”
It is likely that one of the sectors which will be most affected by Brexit will be Finance, Spiller considers. “Some large banks may decide to leave London in favour of Frankfurt, if the rules relating to Britain’s access to the single market are altered.”
The technological world and the so-called “FinTech” industries are also potential casualties of the Brexit earthquake.
For businesses with a presence in Brussels, everything now depends on the deal to be negotiated over the next few months or even years. “Clearly a new chapter has begun.”