Importance of Trade in Services in the EU-UK Future RelationshipThe European Services Forum (ESF)

The European service industries called on the Brexit negotiators to recognize the critical importance of trade in services in the EU-UK future relationship. The United Kingdom’s exit from the European Union risks creating major disruption for services industries, with the danger of adverse consequences in terms of employment and wealth-creation across the EU and the UK. “The business community requires legal certainty as early as possible. We therefore call on the negotiators to take all necessary steps to minimise business disruption, to provide clarity as soon as possible on the Withdrawal Agreement, and to allow some flexibility in the management and duration of the transition period” said Noel Clehane, Chairman of the European Services Forum (ESF) in a letter addressed to Brexit Chiefs Negotiators.

Services are the basis of both economies, representing 74% of EU GDP and 73% of the EU labour force and 80.4% of UK GDP and 83.5% of the UK labour force. “Services trade related issues are often not seen as decisive in trade negotiations, but in this case and without any doubt, they will be” highlighted Pascal Kerneis, ESF Director. See Press Release & Graphs here.