German Companies Feeling the Pinch from Brexit in the UK: Survey

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Brexit is hampering business for German companies in Britain: Survey

Brexit and its consequences continue to put a strain on German trade relations with Britain, reported dpa.

"Increased administrative costs, logistics costs and customs duties are proving to be ongoingly painful," according to a survey by the British Chamber of Commerce in Germany (BCCG) and the auditing firm KPMG, which was made available to dpa in London.

New regulations have led to an increasing decoupling of Britain from the European Union. The results were to be presented on Thursday as part of the Ludwig Erhard Summit in the Bavarian town of Tegernsee.

"The decline in the volume of German-British trade is dramatic," said KPMG division head Andreas Glunz. Since the Brexit referendum in 2016, the trade volume has fallen from 38 million tons to 22 million tons.

British exports to Germany rose again in 2022 for the first time since Brexit. However, this was mainly due to peak prices for crude oil and gas, which replaced the loss of supplies from Russia.

The British government wants to declare hundreds of laws from its period of EU membership, which spanned nearly five decades, invalid. BCCG President Michael Schmidt also warned against further decoupling in light of geopolitical crises.

"We urgently need to bring the politics and economies of both countries closer together again and build bridges," said Schmidt.

Britain left the EU at the end of January 2020 and has no longer been a member of the EU customs union and single market since 2021. Despite a last-minute trade agreement, there have been major problems in the bilateral exchange of goods with the EU, especially at the beginning.

Source: www.dailyfinland.fi

11 Comments
  1. LindaSmith says

    Is there any indication of potential solutions to mitigate the challenges faced by German companies post-Brexit?

    1. JohnDavis says

      There have been discussions about potential bilateral agreements between Germany and Britain to alleviate the challenges arising from Brexit. However, concrete solutions are yet to be fully realized. The uncertainty surrounding trade relations continues to pose significant obstacles for German companies operating in the UK.

  2. EmilySmith says

    As a business owner in Germany, I can confirm that Brexit has indeed caused significant challenges for German companies operating in Britain. The increased administrative costs, logistics costs, and customs duties are making it more difficult to maintain profitable trade relations with the UK. It’s crucial for both countries to work towards closer alignment to mitigate the negative impact on businesses on both sides.

  3. EmilyJohnson says

    How will the ongoing strain on German trade relations with Britain impact the overall economy of both countries in the long run?

    1. DavidSmith says

      The ongoing strain on German trade relations with Britain is likely to have long-term implications for the economies of both countries. The increased administrative costs, logistics costs, and customs duties mentioned in the survey could potentially lead to reduced trade volume and hinder economic growth. It is crucial for both nations to find ways to mitigate these challenges, foster cooperation, and establish new trade agreements to ensure the stability and prosperity of their economies in the future.

  4. EmilyHiker_87 says

    How are German companies adapting to these new trade regulations post-Brexit? Are there any specific strategies being put in place to mitigate the impact of increased administrative costs and customs duties?

    1. MarkTrader_89 says

      German companies are facing significant challenges due to Brexit-related trade regulations. Many companies are exploring various strategies to cope with increased administrative costs and customs duties, such as optimizing supply chain processes, seeking alternative markets, and investing in technology to streamline operations.

  5. AlexandraSmith123 says

    As a German business owner, I can attest to the challenges Brexit has brought to our trade relations with the UK. The increased administrative costs and customs duties are indeed causing ongoing pain. It’s crucial for both countries to work towards closer cooperation and avoid further decoupling amid geopolitical crises.

  6. Emily Smith says

    As a German business owner, it’s disheartening to see the negative impact Brexit is having on our trade relations with Britain. The increasing administrative costs, logistics challenges, and customs duties are truly burdensome. It’s crucial for both countries to find ways to bridge this gap and strengthen our economic ties once again.

  7. Emily_Smith says

    As a business owner in the UK, it’s disheartening to see the negative impact Brexit continues to have on German trade relations. The increased costs and regulations are indeed burdensome and are causing a significant decline in trade volume. It’s crucial for both countries to work towards strengthening their economic ties and finding common ground to mitigate the challenges posed by Brexit.

  8. EmilySmith says

    It’s sad to see the impact Brexit is having on German-British trade. The increasing administrative costs and customs duties are really hurting both sides. I agree with Schmidt that we need to work on bringing the two countries closer together to mitigate the effects of these changes.

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