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© Reuters. London recognizes the importance of opening the labor market to foreigners
London, Nov 16 (.).- The British Secretary of State for Commerce, Greg Hands, recognized on Wednesday the importance for foreign companies of being able to bring their workforce and assured that his Government is trying to “achieve that balance” in its immigration policy after Brexit.
Hands spoke with Efe after participating in the presentation in London of the IV Investment Barometer of the Spanish Chamber of Commerce in the United Kingdom, which indicates that Spanish Foreign Direct Investment (FDI) in this country has slowed down in the first semester, by frictions in the supply chain, Brexit and the war in Ukraine.
The results of the survey show that 88% of companies claim to have experienced friction in their activity after the entry into force of the EU-United Kingdom Trade and Cooperation Agreement, mainly “increases in costs and difficulties in recruiting staff” .
Hands recalled that these difficulties in the labor force are also experienced by British companies, since, with an unemployment rate of 3.6% -the lowest since 1974-, the British labor market is “very tight”, with more job offers vacancies that demand
He admitted, however, that the possibility that foreign companies can bring in staff if necessary “is very important.”
“The UK has always been a very open market for foreign direct investment. Spain is one of our biggest and most important investors, and investors will always want to bring people, sometimes their own people or hire others,” he said.
“It is a task for the UK government to achieve that balance in its immigration policy,” he told EFE, adding that the Home Office is analyzing it.
Hands assessed that, according to the Barometer, Spanish companies have “adapted well” to operating after Brexit and that there is “so much direct investment from Spain in the United Kingdom as well as from the United Kingdom in Spain.” “It’s something we value very much,” she stressed.
According to the conservative politician, his country “continues to be a very solid place for foreign direct investment” and leaving the EU offers “new opportunities.”
For example, he highlighted the advantages of “free trade agreements” signed by the United Kingdom with countries such as Japan, Australia or New Zealand, some of which the EU does not have or this country “has gone further” in the benefits achieved .
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