Commenting on the announcement from the Prime Minister that the Cabinet has backed the draft Withdrawal Agreement and the political declaration on the future relationship between the UK and the EU27, Heather Myers, CEO of South and Mid Wales Chambers of Commerce, said:

“As a Welsh business community, we need to provide measured and considered thought to what has been announced, and we need time to reflect on how these momentous proposals will affect businesses.

“The South Wales Chamber is part of a national and international network that has a powerful voice, which Government listens to and actively engages with. I am of the belief that a knee jerk reaction would be counter-productive at this stage. For this reason, I won’t be drawn on making comment yet, because I need to get a reaction from my members on what they feel will impact them. We welcome and will encourage that feedback.”

Dr Adam Marshall, Director General of the British Chambers of Commerce, said:

“Businesses will recognise the huge efforts made by the Prime Minister and across government to reach this milestone.

“With people’s livelihoods and the future prospects for many companies in the balance, this is not the time for snap judgments. Businesses will be looking carefully and deliberately at the real-world implications of this agreement over the coming days and expect their elected representatives to do the same.

“After two and half years of uncertainty, this may be end of the beginning — but not yet the beginning of the end. Our firms need clarity and precision on the specific terms of trade they will face in future, many of which are still to be agreed. The avoidance of sudden or multiple changes to trading conditions is crucial to business investment and confidence.

“Our priority will be to assess the implications of these proposals, working closely with Chamber business communities across the UK.”