Consequences for Dutch trade

On Monday morning, June 19, the Brexit negotiations officially started in Brussels. This is reported by BusinessInsider. What is at stake for Dutch trade? 

From the British side, Brexit minister David Davis came forward. The chief negotiator Michel Barnier came on behalf of the European Union. The 2 parties initially have until March 2019 to reach an agreement on Brexit.

38 billion euros in goods
Dutch companies annually export 38 billion euros worth of goods to the United Kingdom. This is offset by an import value of 21 billion euros.

This makes the United Kingdom the Netherlands' third-largest trading partner and, according to Evofenedex, accounts for 300.000 jobs. That is why it is urgent that good agreements are made to guarantee easy trade between the two countries, according to the trade association Evofenedex.

Fear of hard Brexit among Dutch exporters
Dutch entrepreneurs doing business in Britain are particularly concerned about new customs rules and procedures as a result of the Brexit negotiations. This is apparent from a tour of the branch organization Evofenedex among its members.

There is a good chance that Great Britain will also have to leave the customs union when it leaves the European Union. 'New rules and procedures can lead to waiting times at the border, higher costs and additional administrative burdens', warns Evofenedex.

In February, the representative of the export companies also gauged to what extent the Brexit specter is affecting Dutch businesses. This showed that a quarter of the entrepreneurs was already experiencing nuisance at that time. Many British trading partners postpone decisions because they do not know where they stand.

Read more:
Brexit negotiations kick off as Theresa May's government is in chaos

Brexit talks will start on Monday, but exactly what the British want is still unclear

The fall of the pound is really starting to hurt UK consumers

Kimberly Baker

Kimberly Bakker is an all-round editor at Boerenbusiness. She also has an eye for the social media channels of Boerenbusiness.

k.baker @boerenbusiness. Nl

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