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Keidanren, other business groups worried over no-deal Brexit

  • September 4, 2019
  • , Jiji Press , 12:32 p.m.
  • English Press
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Tokyo, Sept. 4 (Jiji Press)–Business federations from eight countries, including the Japan Business Federation, or Keidanren, and the U.S. Chamber of Commerce, have expressed grave concern over the prospect of Britain exiting the European Union without a withdrawal agreement, it was learned Wednesday.

In a joint statement, the business groups called on Britain to reach an agreement with the EU including a transition period for leaving the political and economic union.

“A decision to leave the EU without a deal would create substantial uncertainty and disruption for businesses, workers, farmers, and regulators alike,” the statement read.

The document listed the potential risks of Britain exiting without an agreement, including “doubts about free flows of data and e-commerce.”

“Firms would be forced to make decisions about supply chains and investments in the United Kingdom without knowing what the future terms of trade will be,” it warned.

The statement comes after the new British Prime Minister, Boris Johnson, pledged to take his country out of the EU at the end of October with or without a deal.

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