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Mon, 2017-07-10 07:19

A new survey conducted across the UK by the British Chambers of Commerce has highlighted business’s need for stability in terms of our trading relationship with the EU, regardless of the state of negotiations at the time of the UK’s exit from the EU in March 2019.

Key survey findings include:

  • 68% of Scottish and UK respondents believed that there should be a transition period of at least 3 years following the UK’s exit from the EU on 29 March 2019

61% of Scottish respondents felt that the UK should remain in both the single market and the Customs Union, compared to 53% of respondents across the UK

 Commenting, Liz Cameron, Chief Executive of Scottish Chambers of Commerce, said:

“Scottish businesses value our trading links with the European Union, as they do with our other major trading partners, and this survey shows that businesses are serious about maintaining a relationship with Europe that continues to enable them to trade as easily as possible, with no financial tariffs and an absolute minimum of regulatory barriers.  The EU may have fallen behind the rest of the world in terms of the value of Scotland’s exports but it remains a vital export destination, particularly as Scotland seeks to grow the number of businesses trading internationally.

“This survey also clearly shows that Scottish businesses do not want to be facing a cliff edge in two years’ time when the UK will leave the EU under Article 50 of the Lisbon Treaty.  The vast majority of business people who responded to this survey felt that a transitional period of at least three years would be appropriate in order to allow trade to continue as normal until a deal is struck to govern our future trading relationship with the EU.

“If Scotland and the UK’s economic needs are to be satisfied, then business must be listened to during these crucial negotiations.”