The big Brexit question – what are my export options?
William Shakespeare once wrote, “The world’s mine oyster, which I with sword will open”. Now, in the wake of Brexit, it’s less clear whether the oyster is becoming more difficult to open, or whether our sword isn’t as sharp or powerful as it used to be. Nonetheless, the fact remains that we need to break open the shell to get to the good stuff.
The government has recently released official guidance for UK businesses on how to prepare for Brexit. The main takeaway for those who run a business which imports or exports goods is that you should apply for a UK Economic Operator Registration and Identification Number if you are planning to continue to trade with the EU after Brexit. Once you have done that, you will need to research the customs declarations requirements for your industry. However, if you provide services to the EU, there could be new rules to watch out for when dealing with EU countries. These will most likely affect businesses that:
- – have an office in the EU
- – operate within a service sector anywhere in the EU
- – are planning a merger with an EU-based company
- – have employees who travel to the EU on business.
Now, of course, it is impossible at this stage for anyone to know exactly how Brexit will pan out; however, like most things in life, when one door closes another opens. All you need is to know where to look. In post-Brexit Britain it may be worth exploring new trading opportunities for your business with other non-EU countries. Take for example Russia, India and China, all of which boast healthy economies and offer plenty of opportunities.
It’s almost too easy to get discouraged and distracted, particularly with so much noise surrounding the doors to Europe threatening to slam shut. Come what may, it’s crucial that British business doesn’t lose sight of the bigger picture.
Are you considering exporting to a non-EU country post-Brexit? If you are, make sure you understand the key export control documents required for that specific country. For instance, some Arab countries ask exporters to provide an Arab-British Certificate of Origin with every shipment. You may also be required to submit Arabic translations for some of your documents in order to obtain this.
Similarly, if you are trading with Chinese companies, they will need approval from the transmitting Chinese bank for payments in foreign currency. They will need you to present both English and Chinese versions of the written contract – signed by all parties – and invoice for each payment to the Chinese bank.
Once you have your foot in the door, we here at Surrey Translation Bureau will be happy to help remove any language barriers standing in your way. Feel free to get in touch with us to discuss your translation needs. Email us on email@example.com or call us on 01252 733 999.
Written by Ashley Mikkola