Transition Deal is Good News for Industry
Today’s announcement that a transition deal has been agreed for the UK’s exit from the European Union is good news for industry.
Aerospace, defence, security and space trade association ADS said any further delay without a transition deal could have put long-term investment in UK industry at risk.
ADS Chief Executive Paul Everitt said:
“This transition deal will help give industry the breathing space it needs to adjust to the new long-term partnership agreement between the UK and the EU after Brexit.
“Negotiators must now focus on reaching agreement on key aspects of our trading and regulatory relationships with the EU, where failing to reach a deal would create substantial costs and disruption for industry.
“Our sectors need assurance that after the UK leaves the EU we will not face burdensome new customs requirements and will continue our participation in successful pan-European regulatory regimes like the European Aviation Safety Agency and European Chemicals Agency.
“Today’s announcement is an important step forward in achieving the comprehensive and ambitious deal that industry needs to remain competitive after Brexit. However, there is still a long way to go and it is vital that negotiators continue to put jobs and prosperity first.”