German business groups relieved over UK election

World | 13 Dec 2019 7:09 pm

German business groups are relieved that Britain’s election has lifted uncertainty over when and whether the U.K. will leave the European Union. But they’re warning that its departure isn’t the end of the story.

Joachim Lang, the chief executive of the Federation of German Industries, said no German company wants Brexit but “our companies are breathing a sigh of relief that there is finally a mandate to accept the withdrawal agreement.”

Lang said there needs to be a clear course in London not just on Britain’s actual departure but on the terms of its future relationship with the EU.

The Association of German Chambers of Commerce and Industry said that Britain has slipped from Germany’s No. 5 trading partner to No. 7 since it voted to leave the EU in 2016.

Its chairman, Eric Schweitzer, said that German companies in Britain are “restrained in their investment and employment plans” because of uncertainty over the future relationship.-AP

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