German firms moving investments away from UK due to Brexit
In a joint statement, the DIHK and the British Chambers of Commerce (BCC) called for British and European Union negotiators to deliver clarity and certainty for trading businesses across Europe in their negotiations on Britain’s exit from the bloc.
“Businesses are very concerned that Brexit will have a major negative impact,” Martin Wansleben, chief executive of the DIHK said in the statement, adding that Brexit could lead to additional bureaucracy, increased waiting times and stricter border controls resulting in higher costs.
“The terms of exit are still completely unclear. Many of our members are reporting that they are already shifting investments away from the UK in anticipation of these barriers,” he added. ■