German firms moving investments away from UK due to BrexitStaff Writer | August 28, 2017
Many German businesses are beginning to shift investments away from Britain in anticipation of increased trade barriers after Brexit, the chief of the DIHK Chambers of Industry and Commerce said.
Europe DIHK Chambers of Industry and Commerce
“Businesses are very concerned that Brexit will have a major negative impact,” Martin Wansleben, chief executive of the DIHK said in the statement, adding that Brexit could lead to additional bureaucracy, increased waiting times and stricter border controls resulting in higher costs.
“The terms of exit are still completely unclear. Many of our members are reporting that they are already shifting investments away from the UK in anticipation of these barriers,” he added. ■