Industry representatives give evidence to Brexit inquiry on trade in goods
17 October 2016
The EU External Affairs Sub-Committee launches its inquiry "future trade between the UK and the EU in goods" with an evidence session from industry representatives.
Thursday 20 October in Committee Room 3, Palace of Westminster
- Dr Virginia Acha, Executive Director of Research, Medical and Innovation Association of the British Pharmaceutical Industry
- Mr Steve Elliott, Chief Executive Officer, Chemical Industries Association
- Mr Fergus McReynolds, Director of EU Affairs, Engineering Employers’ Federation UK (EEF)
- Mr James Selka, Chief Executive Officer, Manufacturing Technologies Association
The EU External Affairs Sub-Committee launches its inquiry "future trade between the UK and the EU in goods" by taking evidence from leading industry representatives in the pharmaceutical and chemicals and capital goods and machinery sectors. The inquiry considers the implications of Brexit for the UK's trade in goods with the EU. By taking evidence from major goods sectors, it aims to determine the implications on industry of the different levels of market access the UK might negotiate with the EU, and understand the principal needs of these sectors for the future trade relationship.
The evidence session focusses on: the importance of trade with the EU and continued access to the Single Market within these sectors; the potential effect of Brexit on future investment in the UK; and trade in goods with third countries. Questions include:
- How significant an effect would the imposition of tariffs between the UK and the EU have on these sectors, including their supply chains?
- How important is ongoing compliance with EU rules for the trade in pharmaceutical and chemicals products between the UK and EU? Would the UK industry gain from the UK continuing to apply the EU rules and regulations as closely as possible, or from departing from them?
- What impact is Brexit expected to have on the location of international companies in both sectors, and on their future investment in the UK?
- What are the potential opportunities and challenges for capital goods and machinery sector from leaving the EU in terms of Intellectual Property?
- How important is continued or equivalent access to the EU's Free Trade Agreements with third countries to these sectors?
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