Brexit, the economy, skills shortage and the impact of technology on supply chains were among the themes discussed at an Institute of Export event, hosted by transatlantic law firm Womble Bond Dickinson in Bristol.
The event brought together members of the Institute of Export & International Trade in the South West to discuss the key challenges facing businesses in the region when it comes to exporting their goods and services.
It also looked at the opportunities arising as the country moves towards the fundamental change that Brexit will bring.
Also on the agenda was HMRC’s investigation of solutions to border clearance and the use of Free Port Zones – supported by blockchain technology – which have the potential to offer significant advantages in terms of tariff rates and reduce risk of delays affecting imports and exports post-Brexit.
Womble Bond Dickinson legal director Malcolm Dowden said: “With the possibility of a ‘hard’ or ‘no- deal’ Brexit, exporters will need to adapt to a new operating environment. As the negotiations with the EU are underway the government is making contingency plans, especially to tackle concerns over the movement of goods entering or leaving the UK and reassure the 130,000 businesses trading with Europe.
“Exporters eagerly await the outcomes of the Trade Bill, the possibility of ‘physical’ or even ‘virtual’ free zones, and the impact that innovation and highly streamlined technology-based procedures could have on maintaining frictionless borders. The discussion was a good opportunity to discuss the key areas of concerns for exporters and explore the many opportunities available to us.”
Womble Bond Dickinson’s Bristol office is the second largest of its eight in the UK and employs more than 250 staff. The firm also has 19 offices in the US.