site.btaBusiness People See Brexit as Chance to Negotiate for Free Trade

Business People See Brexit as Chance to Negotiate for Free Trade

Sofia, May 25 (BTA) - Business people in the United Kingdom interviewed by a partner organization to the Bulgarian Chamber of Commerce and Industry (BCCI) said that Brexit should be an occasion to negotiate for free trade, not for restrictions on immigration.

The poll shows that one of the greatest perceived shortcomings of the European Union is that its protective tariffs make it difficult for British companies to participate in global trade, BCCI Chairman Tsvetan Simeonov said. Over the long term, this weakens the competitive power of businesses which operate on the EU market only, thus potentially undermining Europe's leadership, Simeonov said.

The UK poll was conducted earlier in May. The organization which carried it out is a barcode administrator for 1,000 companies employing more than 100,000 workers.

In a Bulgarian survey conducted last year among 100 member companies of the BCCI, respondents said the UK's exit from the EU is an opportunity to improve Bulgaria's cooperation with the UK. According to Simeonov, Bulgaria should seek to attract more economic investment from the UK, because it is rather limited at present. He noted that the British economy and its worldwide contacts could provide much more opportunities for Bulgarian companies.

Respondents in the Bulgarian poll say that the main reasons for the UK to want to leave the EU have to do with the bloc's inefficient administration and the high costs of European integration. Also, with its desire to control everything through regulations and directives, the EU has put limits on free enterprise. According to those polled, Brexit is not a very good move; the right thing to do would be to improve the EU.

Most of the Bulgarian companies interviewed in this second survey do not expect Brexit to affect them adversely, because they have no trade relations with UK businesses. But the BCCI drew attention to the indirect effects on the Bulgarian economy.