Malta Busi­ness Bu­reau wel­comes Euro­pean Coun­cil de­ci­sion on Brexit

The Malta Business Weekly - - NEWS -

it with­drawal agree­ment and po­lit­i­cal dec­la­ra­tion on fu­ture re­la­tion­ship

The Malta Busi­ness Bu­reau has wel­comed the de­ci­sion of the EU 27-mem­ber states whereby at Sun­day’s ex­traor­di­nary sum­mit they en­dorsed a with­drawal agree­ment that was ne­go­ti­ated by the Euro­pean Com­mis­sion and the UK Gov­ern­ment. Dis­cus­sions have been on­go­ing for sev­eral months and were only con­cluded a few weeks ahead of the UK’s for­mal de­par­ture from the EU at the end of March 2019.

MBB Pres­i­dent Si­mon De Ce­sare stated, “The en­dorse­ment by the EU mem­ber states con­firms that in spite of the UK’s de­ci­sion to leave the EU be­ing re­gret­table, and that the out­come will have neg­a­tive reper­cus­sions for both sides, the EU is com­mit­ted to an or­derly end of the cur­rent re­la­tion­ship, and is com­mit­ted to ne­go­ti­ate a fu­ture eco­nomic and se­cu­rity part­ner­ship, while pre­serv­ing the in­tegrity of the Euro­pean Sin­gle Mar­ket.

“This agree­ment paves way for a tran­si­tion pe­riod that pre­serves the sta­tus quo at least un­til the end of 2020 and will there­fore bridge the time be­tween the UK’s with­drawal from the EU and the com­ing into ef­fect of a new re­la­tion­ship, thus al­low­ing busi­nesses a smoother tran­si­tion and more time for prepa­ra­tion,” he con­tin­ued.

De­spite the pos­i­tive out­come of Sun­day’s de­ci­sion, the MBB is how­ever still very con­cerned with the po­lit­i­cal uncer­tainty in Bri­tain and whether this deal will also be ap­proved by the UK Par­lia­ment. “Politi­cians need to put rad­i­cal ide­olo­gies aside and be more sen­si­ble to the facts and the im­pli­ca­tions on the econ­omy, busi­nesses as well as the im­pact on cit­i­zens. No cir­cum­stance jus­ti­fies a no deal Brexit,” Mr De Ce­sare af­firmed.

The MBB in­vites busi­ness op­er­a­tors and pro­fes­sion­als with in­ter­ests in the UK mar­ket to be in­formed and pre­pared for any even­tu­al­ity that the de­par­ture of the UK will un­avoid­ably bring, to avoid any dis­rup­tion that could po­ten­tially come into ef­fect as soon as four months from now.

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