Market Wits, a leading news site for global finance, economics, market information and political analytics, has launched a new report focusing on how UK businesses are set to step up trade with Europe over the next five years despite the uncertainty caused by the Brexit vote. A survey run by the British Chambers of Commerce showed that one in three business people planned to put more resources into exporting and importing goods and services.
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On Thursday 23 June, the Uk held a referendum to decide whether the UK should leave the EU. The Leave vote won by 52% to 48%, setting in motion a process that saw many members of the UK government step down, and casting doubt over the world of business.
However the report indicates that the UK appears to have weathered the initial shock that came about through the Brexit vote. Now more than a third of UK firms are hoping to step up trade with Europe over the next five years.
The British Chambers of Commerce director general has underscored that regardless of what happened with the Brexit vote, what is clear is that businesses are still seeing Europe as a primary market for their goods and services.
As part of this plan, UK firms have expressed interest in convincing the government to address tariffs, non tariff barriers, and product standards. One of the biggest boons of the situation is that the EU referendum result has created interest in an area where previously there was little to none.
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