A strong chemical manufacturing sector is at the heart of every successful economy. In the UK, the sector contributes £18 billion a year to the economy, employs 500,000 people and has £50 billion worth of exports – the largest of any manufacturing sector. Most importantly, 60% of these exports go to the EU and 75% of the UK’s chemical imports come from the EU.
The terms of the UK’s exit from the EU are, therefore, critical for the future success of the sector. A recent report, produced by the Chemical Industries Association in partnership with Squire Patton Boggs, examines some of the critical issues, challenges and opportunities for the sector as the UK progresses its Brexit negotiations.