"An immediate Brexit would have a very strong impact on Peruvian trade"

The export sector is hoping that trade relations with the United Kingdom will remain strong, as Brexit could have a great impact on bilateral trade, said the Association of Exporters (Adex).

The Global Research and Business Center (Cien-Adex) reported that by the end of 2018, 57.8% of the products shipped to that country were non-traditional.

"For the interests of Peru, it is preferable that an agreement is signed between the European Union (EU) and the United Kingdom, as this way, it will be possible to start a direct negotiation with the latter in order to maintain normal bilateral economic relations," said the Director of the Cien-Adex, Carlos González.

"However, with an immediate Brexit, the impact on trade and the Peruvian economy would be very strong," he added.

The strategy of the British Prime Minister, Theresa May, has been focused on trying to get extensions for further domestic deliberation; however, the EU only granted it until April 12. If no agreement has been approved by then, the separation would become a reality on May 22.

"This would undoubtedly cause one of the biggest economic crises in British history," Gonzalez said.

Likewise, he pointed out that Peru, which enjoys low tariffs in the European Union thanks to an FTA, would no longer have any relationship with the United Kingdom.

"Tariffs would rise and there would be less demand for the Peruvian supply in that destination," he warned.

Source: andina.pe

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