- Created: 14 July 2016
British chemicals companies and companies that use the UK as their point of entry into the European single market could face years of uncertainty over their compliance obligations, in the wake of the UK’s Brexit referendum.
Legal and industry experts contacted by Bloomberg BNA emphasised that until the day the UK departs the European Union, the bloc's REACH regulation and other EU laws on substances will continue to apply. But beyond that, there are few certainties.
The preferred option for chemicals companies would be that business continues as usual to the greatest possible extent. Steve Elliott, chief executive of the UK’s Chemical Industries Association (CIA), told Bloomberg BNA that “the whole of the business community will want to retain tariff-free access to the single market.”
A pre-Brexit survey of the UK chemicals sector found that “not one company registered a wish to leave” the EU, Elliott added.
By Stephen Gardner. Read the article in full at Bloomberg BNA.