EU business leaders have expressed a strong preference for a free trade deal with Britain instead of a customs union in a strong sign of the continuing relationship with Europe.
In a poll published by law firm Baker McKenzie, 800 business leaders from across 6 different countries indicated that they are keen to continue their strong connections to the UK in a post Brexit world.
More than two-thirds of the bosses indicated that is would be “important” for their firm, whilst only 45 per cent said that a customs union deal would be preferable.
Free trade agreements generally cover a broader range of goods and can encompass services as well as goods. Customs union agreements however, are more limited towards goods. Therefore an FTA would cover various types of businesses and provide a more specific set of trading arrangements.
Firms in the EU are also keen to retain connections with Britain. Irish firms in particular are keen to preserve trade links with the UK, with 97 per cent of leaders saying their business would be better off without Brexit.
The report has been released as it has been revealed that London is the most popular city in the world to work in. The announcement of London’s dominance comes only a few months after it retained its number one spot in the Global Financial Centres Index, which showed the City successfully fighting off competition from New York, Hong Kong and Singapore for the most competitive and attractive business environment.
This report is a promising sign that the UK will continue to be a global player but also it indicates our relationship with Europe and European businesses will remain strong well into the future.