The European Powder Metallurgy Association (EPMA), which operates its Administrative Office in UK, its Registered Office in Belgium and Technical Team Office in France, has issued a formal statement ahead of the UK’s exit from the European Union, otherwise known as Brexit. “In light of uncertainty surrounding Brexit, the EPMA is doing everything it can to mitigate any potential risks which may arise,” the association states.
Due to ongoing uncertainty as Brexit negotiations take place, the EPMA’s post-Brexit plans are said to allow for “a large degree of flexibility.” The association explained, “As the negotiating deadline for exiting the EU looms closer, we recognise that a number of parties will understandably be concerned; these include EPMA members, suppliers and stakeholders.”
In light of these concerns, the EPMA noted that it is working with its logistics partners and retaining stock in its French office with the hope of lessening the impact of potential changes to customs borders, tariffs, costs and administrative workload for its promotional events, seminars and the annual Euro PM Congress & Exhibition event.
“As EPMA is a Belgium Registered Trade Association… the day-to-day activities and operating of the EPMA during and post-Brexit will not change,” the association stated. “EPMA membership will not change and will continue unabated allowing members from all EU and non-EU countries to be part of the association.”
In addition, as the EPMA trades in euros and not pound sterling, and has several bank accounts to ensure positive cash flows, it expects the wider economic impact of a fluctuating pound post-Brexit to be limited. “EPMA continues to closely monitor all updates and information surrounding the impact of Brexit, especially regarding the possibility of a ‘No Deal’ Brexit and how this will potentially affect EPMA Members and their respective supply chains,” it added.