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The CIP (Confederation of Portuguese Business), once again expresses its concern about the lack of agreement in the negotiations between the United Kingdom (UK) and the European Union (EU).

 

CIP reiterates the great importance of reaching an agreement to protect trade relations between the EU and the UK this week before the last negotiation round of 15 and 16 October.

 

The CIP Chairman also recalls companies and economies’ notable weakness arising from the current Covid-19 pandemic scenario. He warns of the cost burden that would result from a failure in the negotiations. He adds, however, an emphasis of hope when he says he considers “that it is still possible to reach a reasonable agreement in good time, but to achieve it is needed political will.” 

 

A study promoted by CIP in 2018 “Brexit: The Consequences for the Portuguese Economy and Business”, pointed a negative impact on exports of around 26% if there was no agreement between the EU and the UK. 

In order to help companies prepare for the end of the transition period, the Commission has developed guides which can be consulted here.