“Next Stop Brexit”: What is approaching Austria’s economy
On March 5, the “Next Stop Brexit” event of the Austrian Federal Economic Chamber (WKO) took place in Vienna. At the well-attended event, it was explained what domestic importers and exporters should pay particular attention to in the coming weeks and months.
.) “We should not be afraid of a no-deal agreement,” Christian Kesberg, business delegate, Foreign Trade Center London
No-Deal Agreement? Deal Agreement? Where is the difference? The deal agreement states that the United Kingdom will still be treated as an EU member until the end of 2020. In return, as of 30 March 2019, the UK will no longer be a member of the EU in a no-deal agreement and will no longer be treated as such.
.) “There will be customs duties”, Herbert Herzig, Department of Finance and Tax Policy, WKO
In the case of no-deal brexit, customs clearance to and from the UK is the same as that of an ordinary third country. Further, Britain could adjust the tariff for imports.
.) “Emergency measures are still not fully agreed upon”, Christian Mandl, Head of EU Coordination, WKÖ
Companies currently having fairs in the UK are advised to bring their goods back. In the case of no-deal brexit, customs duties may be levied on your own goods upon return.
.) “Storage for temporary storage is fully booked”, Christian Mandl, Head of EU Coordination, WKÖ
Many companies have created so-called “security camps” in the UK in recent months because of the unclear economic situation. Now these facilities are fully booked and overpriced.
.) “It will not be an easy month”, Christian Kesberg, business delegate, Foreign Trade Center London
Brexit will affect any UK-related company. It is therefore important to network with one another and master this hurdle together.