Britain’s departure from the EU has sent massive shockwaves across the business world. Not only is the UK a dominant market force to reckon with, but the sudden exodus has inadvertently caused a considerable fall in the stock markets across Europe. At such a staggering loss of 12%, one can only wonder what’s next for what was once the prosperous European Union. To put it in a much clearer context, Flavio Maluf has offered his professional opinions as follows:
- Consequences of Britain’s Economic Implosion
Based on accurate statistics released in 2014 by the EU, the UK spent a staggering 11.3 billion pounds to the Union compared to the previous figure of 6.9 billion pounds. With such an increment, inflammation was widely considered to be a ticking time bomb which ultimately blew up with grave consequences. According to Maluf, Britain’s exodus from the EU will undeniably dent any chances of foreign investment into the country.
- Impact of Foreign Trade between Europe and the U.K
One of the perks of being a member of the EU is the unlimited provision of a customs union. Such a statute essentially allows free trade in the absence of additional quotas or tariffs on the products of member states. With the departure, the UK will immediately enforce new rates compared to previous charges levied in the trade bloc with the potential of causing a tremendous effect on future business transactions.
- How Brazilian Imports and Exports Will Be Affected
With Brexit, Brazil has emerged as a front-runner to reap immense benefits with Britain courtesy of bilateral agreements lying ahead, which were previously hindered by complex EU standards based on specified rates and type of products. However, Maluf insists that such benefits are only limited since the two nations have yet to strengthen business relationships. Currently, the UK accounts for only 2% of annual exports from Brazil. https://br.linkedin.com/in/flavio-maluf-172147b3
Flavio Maluf in Brief
Flavio Maluf has become synonymous with Eucatex especially after steering the company to unprecedented heights since 1997. As president, Maluf has gone above and beyond to build the company on the principles of excellence and innovation.
Eucatex specializes in the production of acoustical ceilings and soft wood fiber sheets as well as venturing into acoustic and insulating plates. While at the helm, the company has launched several industrial plants in Brazil to boost economic prosperity.