British Ports Association responds to Odgers Berndston survey ‘Brexit, Business Leaders and Investment’. The survey focuses on UK’s preparedness for Brexit and in the possibility of a no-deal scenario. The British Ports Association has suggested ports and terminals are considering a range of potential outcomes. The uncertainty has made it difficult for ports to make firm investment decisions in potential solutions.
Specifically, the study discusses the differences between UK’s and EU’s development in all sectors. For instance, the report states that Europe increased its share of tech investment to 980 projects in 2016 – a ten-year high and 9% increase on 898 projects in 2015.
On the contrary, the UK’s market share fell from 30% of all tech investments across Europe in 2015, to 27% in 2016.
[smlsubform prepend=”GET THE SAFETY4SEA IN YOUR INBOX!” showname=false emailtxt=”” emailholder=”Enter your email address” showsubmit=true submittxt=”Submit” jsthanks=false thankyou=”Thank you for subscribing to our mailing list”]
Although, the report reflects the negative impacts of Brexit in the UK, BPA as many others in the logistics chain ports are considering their options and awaiting details from the Government as to what the final trading environment will look like.
Richard Ballantyne, the Chief Executive of the British Ports Association commented on the survey stating that the ports industry has been involved in extensive planning and discussion with the UK Government on the challenges a no-deal Brexit would present.
However, given that there is still no certainty around UK’s trading relationship with Europe after Brexit it is not surprising that some ports have been unable to fully prepare.
Moreover, ports along the UK are exposed to Brexit challenges.
Additionally, BPA supports that obviously ferry ports will face many challenges. The industry is discussing and cooperating in order to make sure that ports and partners will be prepared for any possible disruption.
Chief Executive continued noting that the past two years the association asks the Government to reassure that there’s enough time to bring changes at the border and urges Ministers to prevent the chance of a no-deal scenario.
This research underlines the importance of securing an agreement and negotiating a future relationship that does not put in place any new barriers to free flowing trade.
For more information on Odgers Berndston survey ‘Brexit, Business Leaders and Investment’, click the PDF below.