Flemish companies that trade with the UK have already recorded an average decline in turnover of 6 per cent since Brexit. This is what the business organization Voka says, after a survey of 150 Flemish companies doing business with the United Kingdom. According to the survey, companies are also reporting a cost increase of just under 5 percent.
A hundred days after Brexit, the impact on Flemish companies that trade with the UK can already be felt. A survey by Voka shows that this effect has so far been mainly negative. Firms report an average cost increase of 4.8 percent. That is why one in ten wants
Even companies are scaling back their activities in the UK. About 19 percent of companies will not expand further for the same reason.
According to Voka, customs procedures, additional regulatory obligations and import duties are the basis for the increase in costs for Flemish companies. Voca managing director Hans Mertens warns that “the expected negative impact of Brexit is already evident after 100 days and this is just the beginning.”
As a solution, Voka advocates the creation of a British Flemish green corridor. “This is a physical and digital customs hub where customs procedures can be handled. It will make it easier to deal with the UK. This is necessary because the first phase of Brexit is already burdening our companies with additional costs and declining sales,” says Mertens. More than half of the companies surveyed support the introduction of Greenline. Voka calls on the Flemish and federal government to take action.
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