Britain officially left the European Union on 31 January 2020, but there are still many issues to be ironed out. The country is currently in an 11-month transition period and remains in the customs union and single market.
What happens after the transition period ends is unclear, as the British Government continues to negotiate the terms of its final trade deal with the E.U. Besides trade terms, other areas still under discussion include fishing, aviation standards and energy supplies.
If the final deal means that U.K. is no longer part of the E.U. free trade area, businesses operating in the country will need to carry out an immediate root and branch evaluation of various business practices. Aspects including consumer and competition laws, customs and duties and export costs, transfer of personal data, and employment of European citizens will have to be examined and revised.
The current uncertainty may dissuade entrepreneurs and investors from venturing into the U.K. market for the moment. However, many of the factors that made Britain a favourable investment destination in the past are expected to remain in place after Brexit.
To help members understand what is happening in Britain and how businesses might be affected, the Chamber's Europe Committee is organizing a Post-Brexit Webinar Series. In this webinar, Paul McComb, General Director, Trade & Investment, Consulate General of the United Kingdom, will discuss the business opportunities and new trade and investment policies in Britain. He will be joined by Davide de Rosa, Partner, Gianni, Origoni, Grippo, Cappelli & Partners, to talk about post-Brexit legal changes and what foreign companies should be aware of when doing business in the U.K.
Register for this webinar to gain a deeper understanding of the reality of doing business in post-Brexit Britain.