EDITORIAL: Brexit delay ushers in more uncertainty for SA business
Trade with the remaining 27 EU members would have been disrupted as components imported from the UK would now be classified as coming from a third country
The EU is SA’s largest trading partner and one of its biggest sources of foreign direct investment and tourists. And within that, the UK is the second-largest source of two-way trade. So this country’s interest in the unfolding drama — the UK’s departure from the 28-nation bloc — is far from being academic. A lot of preparatory work has been going on in the background to ensure as smooth a transition as possible for our industry to minimise disruption to those trade flows. It will be some relief that the UK won’t be leaving the EU on Friday, the second deadline to be missed. It was initially supposed to happen on March 29. With the agreement reached in Brussels this week, the May 22 deadline is also off the table, and the end of October is the next big date to watch. Britain, which hasn’t managed to decide on the type of Brexit it wants, despite voting for it almost three years ago, now has another six months to get its house in order. Like their counterparts across the worl...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.