Following Britain’s historic decision to leave the European Union, Brexit will have a global impact on business especially that of the shipping industry.
How does it affect Ghana UK shipping?
- There will be expected delays in short to medium term on customs clearance in UK
- There will be new customs restrictions on exports to UK
- Weaker trade with Ghana in short to medium term resulting in lower volumes for shipping and logistics.
What does this mean for the industry?
It’s believed that Brexit will bring with it a temporary slowdown in growth/trade. Although too early to say what the impact of Brexit on shipping will be in the long term, it is not likely that Brexit will have a substantial bearing on overall UK maritime volumes.
The industry is foreseeing a new or improved bilateral trade agreement between the UK and countries such as India, the US, Canada, and South American countries.
When in EU, they needed to get consensus approval from 27 countries, with Brexit, it will give them an opportunity to operate independently. Which means a broader scope for the countries the UK can operate with. Border Control and Customs, With International Shipping and logistics, border control has always posed a threat to speed of delivery. However with BREXIT, it’s very possible that days of red tape and documentation process may return.
