What the Brexit Means for the Industry Brexit is Here to Stay – But Where is the Industry Heading for?
As the United Kingdom gets ready to leave the European Union, there are infinite questions about how will business be impacted post the exit. Hannover Messe provides industry players with the opportunity to interact with high profile leaders in order to get first hand information about diverse business aspects of the deal.
Former Prime Minister of the United Kingdom, David Cameron will be remembered by the world as the person who legally announced Britain’s Exit from the European Union (Brexit) after the UK voted to leave the EU. The December 2017 briefing paper on ‘Statistics on UK-EU Trade’ by the House of Commons Library states that the EU is the UK’s largest trading partner and in 2016, UK exports to the EU were £236 billion (43 % of all UK exports) while UK imports from the EU were £318 billion (54 % of all UK imports).
Great Britain is one of the largest trading partners for the European mechanical engineering industry. Europe is considered to be the world’s largest producer and exporter of machinery, ahead of the US, China and Japan with major export markets currently in Russia, India, Turkey, Brazil and South Korea, according to reports.
Uncertain business relations
In this background, the UK has decided to leave the block on March 29, 2019 but both sides are keen to have a transition period during which they aim to get everything settled and also hold fresh talks with each other regarding future business relations.
Although the respective government bodies are currently discussing strategies to make the exit a smooth one, it cannot be denied that business will be affected by this historic event and this has got business stalwarts within this region and players investing in this market worried. All eyes are on Theresa May’s next move.
Special event at Hannover Messe
Sensing the anxiety in the market, the global business event Hannover Messe is hosting an exclusive discussion with prominent EU Chief Negotiator, Michel Barnier to enable the numerous business players to get an insight into the negotiations and effects of the Brexit deal. The session titled ‘8th EU Policy Reception: How hard will Brexit be for the industry?’ is scheduled to be held on April 23, 2018 at the Haus of Nation, Hannover Fairgrounds in Germany.
Four well-known industry leaders including Michel Barnier, Chief Negotiator of European Commission; Burkhard Balz, Member of the European Parliament, Europäisches Parlament; Carl Martin Welcker, President of VDMA and PhD Detlef Fechtner, Deputy Editor-in-Chief, Börsen-Zeitung are expected to attend this event. Discussions on interesting topics such as Global Business & Markets, Integrated Industry, Research & Technology, Smart Supply and Working World in Transition will also be held.
The article was first published in Maschinenmarkt International