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Dutch companies concerned about Brexit effects

Xinhua, March 3, 2017 Adjust font size:

The imminent departure of Britain from the European Union (EU) already has implications for trade companies and production companies in the Netherlands, evofenedex, a Dutch association for entrepreneurs working in logistics and international business, announced on Thursday.

The association with over 15,000 members came to this conclusion after interviewing over 100 of its member companies to map Brexit-related concerns and preferences for a new trade agreement.

More than half of the respondents indicated that the imminent Brexit is already having consequences on their business operations. Nearly a quarter of the respondents said they have been affected by the additional uncertainty, mostly because British partners postpone decisions or investments.

Almost all companies are concerned about the consequences of an eventual Brexit and around 22 percent expects that the eventual economic impact will be substantial.

Business owners especially fear complex custom regulations and procedures (72 percent), more administrative hassle (50 percent) and higher tariffs (47 percent).

Still, one in five thinks that Brexit also brings opportunities, for example when operations move from the Britain to the Netherlands or when a new trade agreement with Britain has a beneficial outcome.

In 2015, companies in the Netherlands exported 38 billion euros (40 billion U.S. dollars) worth of goods to Britain, major export products including telecommunication devices, medicines and vegetables and fruit. A total of 21 billion euros worth of goods was imported from Britain that year.

Starting from March, the EU is negotiating the precise implementation of the Brexit with Britain.

"Good trade agreements will be crucial to keep trade with the UK simple. Evofenedex calls on the Dutch government to do everything they can for the Dutch interests in the European negotiating mandate. Only then, the 300,000 Dutch who have work thanks to our trade with the British, can keep their jobs," said the association. (1 euro = 1.05 U.S. dollars) Endit