Industry trends Brexit is here to stay
As the United Kingdom gets ready to leave the European Union, there are infinite questions on how business will impact post exit. Hannover Messe provides industry players the opportunity to interact with high-profile leaders to get first hand information on diverse business aspects of the deal.
Former UK Prime Minister David Cameron will be remembered by the world as the person who legally announced Britain’s exit from the European Union (Brexit) after 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 UK’s largest trading partner and in 2016, UK's exports to the EU amounted to £236 billion (43% of all UK exports) while UK imports from the EU was at £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 current major export markets like Russia, India, Turkey, Brazil and South Korea, according to reports.
Uncertain business relations
With this background, UK will leave the block on 29 March 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 smooth, it cannot be denied that business will be affected by this historic event, and this will have business stalwarts within this region and players investing in this market are worried. All eyes are on Theresa May’s next move.
Special VIP event at Hannover Messe
Sensing the anxiety in the market, the global industrial technology event, Hannover Messe, is hosting an exclusive discussion with prominent EU Chief Negotiator, Michel Barnier to enable 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 23 April 2018 at the Haus of Nation, Hanover Fairgrounds in Germany.
Four well-known industry leaders, including Michel Barnier, Burkhard Balz, member of the European Parliament, Europäisches Parlament, Carl Martin Welcker, President of VDMA, and Dr. Detlef Fechtner, Deputy Editor-in-Chief, Börsen-Zeitung, are expected to attend this event. Discussions on interesting topics such as Global Business and Markets, Integrated Industry, Research and Technology, Smart Supply and Working World in Transition will also be held.
No one should miss this VIP session.
This article first appeared on www.maschinenmarkt.international.