Businesses want improvements in German-UK trade relations - survey

Ten years after the Brexit referendum, many German and British companies are hoping for trade rules to be eased, according to a survey by audit firm KPMG and the British Chamber of Commerce in Germany, BCCG. 

The study, released on Thursday, found that 71% of surveyed companies active in both countries want the British government to improve trade relations, while 73% want less bureaucracy from the German government.

"Now is the moment to turn rapprochement into growth," said BCCG President Michael Schmidt. "Companies need reliable commitments: simpler borders, predictable visas and rules that work in everyday life."

The Trade & Cooperation Agreement, TCA, between the EU and the UK, negotiated after Brexit and in force since 2021, undergoes a joint review every five years.

The survey found 53% of firms want more mobility for business travellers and employees, and 49% want more efficient customs and border procedures. 

Other priorities, according to the survey, are mutual recognition of product standards, 32%, and better market access for services, 31%.

Trade in goods between Germany and the UK remains well below pre-Brexit levels.

Between 2015 and 2025, the trade volume fell by 7% to EUR118.4 billion despite prices in some cases rising sharply.

Some 61% of the companies surveyed do not plan any investment in the UK this year. Political uncertainty is cited as the main obstacle to investment in the country, 35%.

British Prime Minister Andy Burnham has recently said several times that the UK is worse off since Brexit.

The next summit between the British government and the EU is planned in Brussels on November 20. Further steps towards rapprochement are expected.

source: dpa

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