London — More than one-fifth of UK’s small exporters have temporarily suspended sales to the European Union, with 4% permanently suspended, according to a Brexit trade deal on Monday. The problem that followed was highlighted.
The trade agreement between London and Brussels, which came into effect on January 1, has caused confusion and delays for some companies that have to deal with new bureaucracy and rules.
In a survey by the Federation of Small and Medium Enterprises (FSB), 30 of 132 exporters said they had temporarily suspended sales to the European Union, and 5 reported that they had stopped permanently.
According to a survey conducted between March 1st and 15th, over 1 in 10 people have established or are considering establishing a presence in the EU.
“People doing business internationally are faced with incredibly demanding and unfamiliar paperwork,” said FSB National Chairman Mike Cherry.
“What we wanted to prove to be a tooth-growing problem runs the risk of becoming a permanent and systemic problem.”
The government has previously stated that some issues are temporary as they have tried to resolve them.
According to the Office for National Statistics, UK exports of goods to the EU, excluding gold and other precious metals other than gold, fell by a record 40.7% in January and imports by 28.8% compared to December.
In response to these numbers, David Frost, head of Brexit negotiations at Johnson, said, “It was inevitable that some unusual numbers would be seen due to the unique combination of factors.”
COVID-19 and stockpiles also influenced the flow of trade.
By Costas Pitas