LONDON (Reuters) – UK chemicals companies face being shut out of a common EU products registry after Brexit and would need to pay around half a billion pounds ($664 million) to set up a British counterpart, the head of the Chemicals Industry Association told Reuters. The sector – which includes companies such as Ineos, Johnson Matthey, Croda and Synthomer – is bound to the European Union by an especially dense web of laws and safety standards as well as supply chains which loop back and forth repeatedly across the English channel. If the UK crashes out of the EU without a deal, it will immediately be excluded from a strict set of EU laws on safety and production of chemicals called REACH and locked out of a Helsinki-based data registry underpinning trade called ECHA. The government is planning to copy REACH guidelines and set up a domestic registry in case of a no-deal Brexit, but the industry and campaigners are wary of the plan. “Companies have been generating and submitting data to Helsinki for a decade. We estimate submitting that again to a UK REACH would cost them a total of around half a billion pounds,” Stephen Elliott, chief executive… continue reading
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Source: CTRM Center