Brexit’s impact on the wire and cable industry

As we know, the United Kingdom's exit from the European Union was enshrined in a withdrawal agreement that came into effect on January 31, 2020. The economic and industrial consequences of Brexit dovetailed and added to those of the global pandemic, causing consequences on all productive sectors.

What impact did this divisive measure have on the wire and cable industry? The UK-based International Wire and Machinery Association (IWMA) analyzed this issue in the latest edition of its journal WCN - Wire & Cable News.
“Here in the UK the pandemic couldn’t have come at a worse time, what with Brexit added to an already dark mood,” said IWMA chairman Martin Van Der Zwan. “Brexit has caused some members additional problems; imports and exports have in some cases been subject to strict new controls, orders have been delayed, and the borders have caused further delays on deliveries between the UK and EU nations.”
The association conducted a survey among IWMA member companies in the UK and Europe. The first issue to be addressed was definitely bureaucratic. “We had huge difficulties exporting and importing goods to and from the EU,” according to X-L Technologies UK, which does 99 percent of its trade with the EU. “Lots more paperwork is now needed,” confirms Andy Wright, MD of Spring Tooling Ltd. Each EU country is adopting its own protocol for UK trade, which is not always in line with the overall EU system – meaning double the paperwork.
As the IWMA suggests, “many issues concerning the split that many of those who voted enthusiastically for Brexit probably didn’t consider” are linked to “pan-Europe projects like the cross-border power and telecoms interconnectors”, the status of which could now be in question.
Some see Brexit as an opportunity. WCN gives voice to Smith Cooper's tax and VAT specialists Gavin West and Julian Rosser, who explain how the split could “be good for those businesses able to master the initial problems.” We invite you to learn more by reading the online edition of WCN >>