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EDITORIAL: Brexit delay ushers in more uncertainty for SA business

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Trade with the remaining 27 EU members would have been disrupted as components imported from the UK would now be classified as coming from a third country

The EU is SA’s largest trading partner and one of its biggest sources of foreign direct investment and tourists. And within that, the UK is the second-largest source of two-way trade. So this country’s interest in the unfolding drama — the UK’s departure from the 28-nation bloc — is far from being academic.

Britain, which hasn’t managed to decide on the type of Brexit it wants, despite voting for it almost three years ago, now has another six months to get its house in order. Like their counterparts across the world, our farmers and car manufacturers will welcome this delay. That would have hardly been enough to make up for the shock to some key sectors, such as the car industry, which sold more than R6bn worth of goods to the UK in 2018.

As soon as she got back to London, it became clear that the prime minister was nowhere nearer to forging consensus. She hasn't shown herself to possess much in terms of negotiation skills or compromise.

 

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