Business In The Dark Over Regulatory Avalanche For EU Trade

New research by the BCC (British Chambers of Commerce) has uncovered that the vast majority of businesses are unaware and unprepared for a swathe of fast approaching changes in EU/UK regulations. 

When asked about their knowledge of a number of changes coming down the track, the survey of more than 700 firms found: 

• 84% of manufacturers do not know about new reporting requirements on exports of goods containing high-carbon steel, and selected other products, to the EU starting in October  
• 87% of exporters are either unaware or unprepared for new EU VAT requirements due in January 2025 
• 43% of manufacturers are still unaware of the UK’s, now voluntary, alternative product safety marking system to the EU’s CE one 

The lack of knowledge and preparation for the changes, mean that some traders with the EU could face a whole range of new delays and unexpected costs. In some cases exporters could also find their goods unable to be transited to EU customers. 

While not all of the incoming changes to regulations will impact every firm, the wide range of new rules, and the complexity of their requirements, means many businesses will face new obstacles. 

Commenting on the research, Catherine Stephens, Head of International Trade Services, said:

“We understand that importers and exporters are dealing with a lot of changes that have been already implemented since the UK left the EU and there are more changes to come. It is difficult for traders to keep on top of all of these changes, particularly with implementation dates being pushed back time and time again. Business West are working closely with BCC and working hard to keep our international trade community informed of all developments. If any businesses are finding trading difficult please get in touch with our team.

To keep up-to-date on international trade developments please view our International Trade News page and follow us on Twitter (@bw_export).