Sunday, June 12, 2016

Brexit tough for Swedish companies – Gothenburg Post

A British withdrawal from the EU has major implications, even in Sweden . Stock Photography. Photo: Matt Dunham

A Europe without Britain makes all the current rules of the game on its head. A precarious existence awaiting hundreds of Swedish companies about brexit become a reality.

On 23 June, the British decide if they want to stay in the EU or leave the Union. Britain is one of Sweden’s biggest export markets, and about a thousand Swedish companies have operations there. That yes to brexit lead to major changes for Swedish companies, the experts therefore agree.

But the impact is quite impossible to calculate, because we do not know what the alternative could be, says Anna Stellinger, Director General of the National Board.

Do not comment

In a survey Swedish Chamber of Commerce in the UK made by about 100 companies responded three of four to brexit would be negative for them. But the issue is sensitive and the companies are careful to speak before the vote.

“The choice is up to the British people. From a European perspective, it would be unfortunate if they leave European cooperation. We believe in an open , business friendly Europe, where the UK is a key player, “the construction company Skanska CEO Johan Karlström in a comment said.

Other major companies pronounce themselves in similar ways. Truck manufacturer Scania has previously reported on the market is one of the company’s largest, but has now also put the lid on.

The Swedish Chamber of Commerce has so far received few questions from their members.

I think most people expect that the UK remains. And even if it gets brexit believed that it will take time before something happens, says manager Ulla Nilsson.

Long Process

At the exit waiting years of contract negotiations between the EU and the UK. The list of questions is long: What will apply for investment, for data that is necessary for all trades, Britons living in other EU countries and EU citizens in the UK, the EU’s existing trade agreements such as the UK are included in the …

There will be several years of uncertainty, says Anna Stellinger.

It is not only companies operating in the UK are affected, she continues. It will be an indirect impact on the entire trade-dependent sector in Sweden, since it would likely lead to a weakened Europe.

UK accounts for 17 percent of the EU GDP, it is a populous country and a withdrawal would significantly shrink the Union’s internal market. The EU would have a weaker bargaining position against the US, for example.

Different wills

The EU may also become less free-trade friendly, but Britain, which is negative for small, export-dependent Sweden.

Sweden has an interest to have a good agreement with Britain after an exit, but it is not certain that other EU countries are equally hungry for it, says Anna Stellinger.

Fact: Trading in the UK

Britain was in 2015 Sweden’s fourth largest export of goods and third largest for services. Exports of goods amounted to 85 billion.

There are about 1000 Swedish subsidiary in the UK.

If there is a yes to exit the UK is expected to submit an application for leave. Then begin negotiations on the future of the relationship. Under the Lisbon Treaty has been two years for that, but an extension is possible.

Other countries’ agreements with the EU are different. Norway has an EEA-agreement. relationship with Switzerland is governed by 120 bilateral agreements. With Turkey, the EU has a customs union.

Source: Trade, the Swedish Embassy in London

Fact: Exposure to the UK

The listed companies with the largest share (percentage ) of its sales in the United Kingdom:

the first Skanska (12.5 percent)

second Mölnlycke (11)

third SCA (9)

4th Sobi (8.8)

5th Astra Zeneca (8.8)

sixth Getinge (7.5)

seventh H & amp; M (7.4)

8th Trelleborg (7.0)

ninth Volvo (6)

10th Stora Enso (6)

11th BillerudKorsnäs (6)

Banks are not included in the review.

Source: Swedbank


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