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Brexit negotiations are all about limiting damages

Brexit will be a burden on the economy. Both parties are called upon to quickly reach agreement on some basic issues in the Brexit negotiations.
The UK side in particular has to set aside unrealistic expectations and contribute to ensuring a successful outcome.

“Brexit won’t be a success for anyone. The negotiations are primarily about limiting damage. Both sides should quickly reach agreement on basic issues relating to the UK’s decision to leave the EU, so that there will be enough time to engage in discussions on future trade relations. The EU and the United Kingdom must put in their best efforts to ensure that two years of negotiations end without an agreement on future collaboration. Otherwise, considerable trade barriers, or even complete stagnation, loom on the horizon after March 2019. The UK has to develop a constructive position and refrain from dragging out discussions based on unrealistic expectations,” says Thilo Brodtmann, VDMA Executive Director. “The 27 remaining EU countries will not engage in fulfilling any special wishes the UK might have – and that is a general rule. The survival of the EU and its single market are much higher on the agenda than the UK’s needs and requirements.”

The UK has to develop a constructive position and refrain from dragging out discussions based on unrealistic expectations. The VDMA has compiled the major obstacles for mechanical engineering arising from the UK’s departure from the EU in a comprehensive list of demands. A so-called “hard Brexit” without planning security concerning the future collaboration between the EU and the UK would introduce unnecessary burdens for companies on both sides.

With an export volume of EUR 7.3 billion, the United Kingdom was the fourth-largest foreign market for German mechanical engineering companies last year, and the sixth most important foreign investment location. In return, the United Kingdom delivered mechanical engineering products worth EUR 2.4 billion to Germany in 2016.

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October 16 2017 2:56 PM V8.8.6-1