THE HAGUE, Nov. 2 -- As Brexit remains uncertain, an economist with a major Dtuch bank has warned its impact on Dutch business, and raised additional concerns over the impact on the country's export-oriented economy.
"The persistent uncertainty, following the new Brexit extension, hurts firms which have strong exposure to UK markets," said Stefan Koopman, senior market economist at Rabobank.
The Dutch economist gave three reasons of the judgement. First, investment related to firms' exposure to the UK is being postponed. Second, there is a risk that firms will think twice before they prepare for another Brexit-cliff. Finally, businesses grow weary as they wait for more Brexit certainty and may decide to relocate their supply chains or selling markets.
The UK was due to leave the EU on Oct. 31, but responding to the British government's request, the remaining 27 European leaders agreed earlier this week to a third delay of Brexit by Jan. 31, 2020.
DUTCH PORT TO BE HIT
Port of Rotterdam Authority (PRA) spokesperson Leon Willems echoed the uncertainty concern, saying "investment decisions are put on hold, while prolongation adds to the cost."
Rotterdam, Europe's largest port, has long been preparing contingency planning to mitigate the impact of a no-deal Brexit, putting in place measures as part of coordinated action to avoid long container haulage delays resulting from additional customs formalities. According to Willems, although the Brexit extension offers perspectives for an orderly departure of the UK from the EU, a no-deal Brexit remains a possibility.
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