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AOAR : Romanian business lacks the necessary weight to have been linked to the UK
The Brexit might have a lesser impact on Romanian businesses than on multinational corporations because the former are less connected to export markets, president of the Romanian Businesspeople Association (AOAR) Florin Pogonaru on Friday said.
"I want to say that the Romanian business has not that critical mass, it lacks the necessary weight to have been linked to the UK. The Romanian business is not that tightly linked to export markets as Romania-based multinational companies. We must look at the extent Romanian multinational companies are affected to know what the impact on Romania is," said Florin Pogonaru.
He argues that the momentary surge in emotions could trigger a negative effect of the Brexit.
"Romania will be adversely influenced because our growth engine are exports. To the extent that our exports are mainly directed towards EU markets, our exports will have problems. So our exports will probably be affected too. But this here requires more nuanced thinking. We discuss in fact the multinational companies that produce and export from Romania (...)," Pogonaru explained.
As for the Romania-based multinational corporations, he said he doesn't think there would be fundamental changes and that this all depends on what happens in Europe.
Pogonaru doesn't believe that there will be a massive impact on the Romanian workforce in the UK, that remittances from this country will immediately plummet, or that restrictions will be immediately set in place for Romanian workers, as there will be other priorities for the UK to solve in the next two years.