The deadline to allow ratification of a Brexit Trade Deal is due at the EU Council meeting next month. All signs indicate that the UK is likely to leave the transition without a deal in place. And while many are rightly focused on sustaining operations through the turbulence caused by Covid-19, Cork Chamber urges businesses in the region to review and prepare their operations for the end of the Transition Period on 31 December 2020.
Welcoming the publication of the latest Brexit Readiness Action Plan from Government, Conor Healy, CEO at Cork Chamber said,
“With the end of the Transition now just 16 weeks away, businesses must urgently prepare their procedures and operations to minimise the impact on their business. The Brexit Readiness Action Plan is an essential resource which outlines the steps that businesses and individuals need to take now, to be ready for the end of the Transition Period on 31 December.”
Both a deal and no-deal scenario will give effect to new obligations and costs for customs procedures, regulation and transit. Movement of goods and supply chain operations are expected to be heavily impacted.
Katherine Fitzpatrick, Director of International Relations at Cork Chamber is expecting to see a rise in companies accessing export services and supports as businesses plan for the end of the Transition Period. “Our members are already seeing disruption to their international supply chains as a result of the Covid-19 pandemic and a no-deal Brexit will compound this with inevitable delays at borders and customs controls. Therefore we are urging all companies to reach out to their local business associations and state agencies to get advice on making the necessary adjustments to their operations to minimise the impact of additional cost and administration. There is heightened focus being placed now on direct shipping routes to both the US and into the EU, in order to bypass the UK landbridge, and our international connectivity from Cork has never been more important.”
Concluding, Conor Healy said,
“While the economic impact of COVID-19 continues to be immediately pressing for business, we must prepare in parallel for the UK’s departure from the EU. Taken together these adverse events will cause significant economic impact. We urge businesses to review the Action Plan, avail of appropriate Government supports and take the time now to be Brexit ready.”
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