More than a fifth of small UK exporters have temporarily halted EU sales

LONDON (Reuters) - More than a fifth of small British exporters have temporarily halted sales to the European Union and 4% have done so permanently, a survey showed on Monday, highlighting problems that have followed the Brexit trade deal.

Reuters March 29, 2021 05:05:28 IST
More than a fifth of small UK exporters have temporarily halted EU sales

More than a fifth of small UK exporters have temporarily halted EU sales

LONDON (Reuters) - More than a fifth of small British exporters have temporarily halted sales to the European Union and 4% have done so permanently, a survey showed on Monday, highlighting problems that have followed the Brexit trade deal.

A trade agreement between London and Brussels that came into force on Jan. 1 has caused disruption and delays for some companies having to deal with new bureaucracy and rules.

In the survey by the Federation of Small Businesses (FSB), 30 out of 132 exporters said they had stopped sales to the European Union temporarily, while five reported having done so permanently.

Just over one in 10 said they had set up, or were thinking of establishing, a presence within an EU country, the research, conducted between March 1 and 15, showed.

"Those that do business internationally are being hit with some incredibly demanding, unfamiliar paperwork," said FSB National Chairman Mike Cherry.

"What we hoped would prove to be teething problems are in danger of becoming permanent, systemic ones."

The government has previously said that some issues were temporary as it sought to resolve problems.

British goods exports to the EU, excluding non-monetary gold and other precious metals, slumped by a record 40.7% in January compared with December, while imports fell by 28.8%, the Office for National Statistics said this month.

In response to those figures, David Frost, who was Johnson's chief Brexit negotiator, said the "unique combination of factors made it inevitable that we would see some unusual figures".

COVID-19 and stockpiling have also affected trade flows.

(Reporting by Costas Pitas; Editing by Jane Merriman)

This story has not been edited by Firstpost staff and is generated by auto-feed.

Updated Date:

TAGS:

also read

France, Germany to agree to NATO role against Islamic State - sources
| Reuters
World

France, Germany to agree to NATO role against Islamic State - sources | Reuters

By Robin Emmott and John Irish | BRUSSELS/PARIS BRUSSELS/PARIS France and Germany will agree to a U.S. plan for NATO to take a bigger role in the fight against Islamic militants at a meeting with President Donald Trump on Thursday, but insist the move is purely symbolic, four senior European diplomats said.The decision to allow the North Atlantic Treaty Organization to join the coalition against Islamic State in Syria and Iraq follows weeks of pressure on the two allies, who are wary of NATO confronting Russia in Syria and of alienating Arab countries who see NATO as pushing a pro-Western agenda."NATO as an institution will join the coalition," said one senior diplomat involved in the discussions. "The question is whether this just a symbolic gesture to the United States

China's Xi says navy should become world class
| Reuters
World

China's Xi says navy should become world class | Reuters

BEIJING Chinese President Xi Jinping on Wednesday called for greater efforts to make the country's navy a world class one, strong in operations on, below and above the surface, as it steps up its ability to project power far from its shores.China's navy has taken an increasingly prominent role in recent months, with a rising star admiral taking command, its first aircraft carrier sailing around self-ruled Taiwan and a new aircraft carrier launched last month.With President Donald Trump promising a US shipbuilding spree and unnerving Beijing with his unpredictable approach on hot button issues including Taiwan and the South and East China Seas, China is pushing to narrow the gap with the U.S. Navy.Inspecting navy headquarters, Xi said the navy should "aim for the top ranks in the world", the Defence Ministry said in a statement about his visit."Building a strong and modern navy is an important mark of a top ranking global military," the ministry paraphrased Xi as saying.