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German chemical business warns towards disruptive no-deal Brexit

FRANKFURT (Reuters) – The VCI affiliation of German chemical firms comparable to BASF and Bayer warned no-deal Brexit would have “grave consequences” for European provide chains and referred to as on Britain to maneuver in 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 Photo

“The Chequers paper is still far from the European Commission’s position. The British Government has to clearly show greater willingness to compromise in further negotiations. The EU cannot put the common market at risk,” the group’s managing director Utz Tillmann mentioned in an announcement, referring to Prime Minister Theresa May’s so-called Chequers proposals.

The threat 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 Chemicals Agency by British companies may not cross the border with out additional administrative steps.

VCI additionally represents international firms, comparable to DowDuPont, LyondellBasell or Ineos, who function websites in Germany, Europe’s largest chemical producing nation.

Reporting by Ludwig Burger; Editing by Maria Sheahan

Our Standards:The Thomson Reuters Trust Principles.

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