(13 Feb 2019) French wine and spirits exporters said they were “in the total fog” over Brexit.
With less than two months before Britain’s scheduled departure from the European Union, the head of the French Federation of Wines and Spirits Exporters (FEVS) warned against the damaging impact an exit without an agreement with the EU could have.
Speaking on the margins of a news conference, Antoine Leccia said a no-deal Brexit could destroy the purchasing power of consumers, while currency fluctuations could have an impact on sales.
The federation said French wine and spirits exports to Britain amounted to 1.3 billion euros in 2018, down 0.6 percent from the previous year. Revenue from exports overall continued to rise, reaching a record of 13.2 billion euros.
British Prime Minister Theresa May urged lawmakers this week to give her more time to rework a divorce agreement with the EU. If no deal is approved by the British and European parliaments before March 29, the UK faces a messy sudden Brexit.
“We are in the total ‘fog’, that’s the appropriate word,” Leccia said. “We don’t know where we’re heading to, nobody knows what can happen.”
Leccia said a hard Brexit would slow some 200 trucks crossing the Channel every day and hurt trade. He also warned about new import taxes that could be implemented.
According to the federation, Britain is France’s second biggest market for spirits and wine exports and France imports a large quantity of British spirits.
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1 Comment
Plz save Britain from EU