FRANKFURT (Reuters) – The VCI affiliation of German chemical corporations akin to BASF and Bayer warned no-deal Brexit would have “grave penalties” for European provide chains and known as on Britain to maneuver in the direction of the European Union’s place in divorce talks.
FILE PHOTO: The brand of Bayer AG is pictured on the Bayer Healthcare subgroup manufacturing plant in Wuppertal, Germany February 24, 2014. REUTERS/Ina Fassbender//File Photograph
“The Chequers paper continues to be removed from the European Fee’s place. The British Authorities has to obviously present larger willingness to compromise in additional negotiations. The EU can not put the frequent market in danger,” the group’s managing director Utz Tillmann mentioned in a press release, referring to Prime Minister Theresa Could’s so-called Chequers proposals.
The danger of a disorderly Brexit with out an settlement would come with disruptions to pan-European provide chains as a result of chemical compounds registered with the European Chemical compounds Company by British companies may now not cross the border with out additional administrative steps.
VCI additionally represents international corporations, akin to DowDuPont, LyondellBasell or Ineos, who function websites in Germany, Europe’s largest chemical producing nation.
Reporting by Ludwig Burger; Enhancing by Maria Sheahan