The UK has started the ball rolling to leave the EU. What does the future hold for the UK?
As we write this blog The UK has officially left the EU, we now enter a period of transition until the end of 2020.
The transition period is designed to give both parties breathing space while a free trade agreement is negotiated.
The current rules on trade, travel and business for the UK and EU will continue to apply during the transition period until new Rules take effect on 1st January 2021.
So how well will the UK be trading with Germany post Brexit telecoms business phone numbers 2020 and beyond?
Germany have long been one of the UKs strongest trading partners, but how has Brexit effected this relationship?
Have we seen a decline in trade imports and exports between these two European powerhouses?
How will the transition period effect ongoing trade between these two Nations?
We’ve seen Brexit uncertainty have a major impact on UK business. It is estimated this led to a 6% reduction in investment in the first two years after the referendum with employment also around 1.5% lower.
The majority of businesses anticipate that Brexit will eventually reduce sales and increase costs.
A German trade body has revealed that German exports into Britain dropped by 4% during the first 11 months of last year amid concerns about the UKs future relationship with the European Union. Exports from Germany to Britain have been falling year-on-year since 2015 when Britons voted in the referendum to leave the EU. Last year it fell by three billion euros (£2.5 billion) to 73.6 billion euros in the year to November compared with the same period in 2018.
Both Britain and Germany are hopeful that a free trade agreement can be concluded following the transition period.
Eric Schweitzer the president Association of German Chambers said that Britain has slipped from being Germany’s fifth most important trading partner to seventh since the Brexit referendum.
How will the Telecoms Industry be affected by Brexit by 1st January 2021?
Once the Brexit transition period comes to a close at the end of 2020 according to the Gov.uk website no significant impacts are expected. The telecoms regulatory framework and the way in which customers are protected is expected to stay the same after 1st January 2021. This is due to EU-derived rules which are applicable to communications providers and governing the way Ofcom regulates the telecoms markets are implemented in UK law. These will be corrected by secondary legislation under the EU withdrawal Act 2018.
Ofcom will continue to tailor its regulatory approach to meet the needs of the UK telecoms market. This approach would continue to be founded on the regulatory principles implemented presently in UK law which aim to encourage competitive markets and guarantee consumer rights.
Cross-border telecoms services will continue to be able to be provided by UK telecoms operators within the EU, under the World Trade Organisation’s General Agreement on Trade in Services (GATS).
Do you currently have a German business located in Germany that trades with the UK? Do you require a German toll-free business phone number for UK customers to contact you on for free? Maybe your German business would like to provide a Germany freephone number to advise your UK customers on Brexit information related to your business?
To read more about Germany Toll-Free Numbers click here
If you would like to talk to one of our team to get any point clarifying please do not hesitate to contact us. Call us now on 0800 692 7000 or email email@example.com so we can call you back.