Minister Oprea: Business environment not ready for Brexit without accord

The business environment  is not +yet ready for Brexit without accord, it does not remark the domino effect, said Stefan Radu Oprea, the minister for Business, Trade and Entrepreneurship.

“I spoke with representatives of small and medium companies and found out they are not ready for a no-deal Brexit, but do not see the global domino effect, the impact on value chains and commercial exchanges. No-deal Brexit means the return to provisions of many-sided commercial accords, under the aegis of WTO and customs duties will be applied at the level of most favored clause. Regardless of the field of activity, companies have in view customs duties practicable of WTO, both by EU in case of imports from UK and  by UK, in case of exports to that country. Health and sanitary measures, procedures and customs controls will be added,”the minister said.

Minister Stefan Radu Oprea participated in Industry Day, an event organized by the UK Embassy. He said that a company should evaluate the direct Brexit effort on trade and production chains and supply.

The event was attended by Andrew Noble, the UK ambassador to Romania, Lazar Comanescu, senior CCIR advisor and representatives of the British government for customs , agriculture , environment, food standard, transport and industry.

Great Britain is one of Romania's important commercial partners, in 2018 Romanian exports to this market registering 2,874 billion euros, that is 5.5% of total Romanian exports to EU member states. Romania exported services of 1.688 billion euros to UK in 2017, representing 10.05% of total services exported to EU member states.

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