Despite the significant reduction in imports from the UK as a result of Brexit, Cypriot exports, mainly dairy products, have remained at the same levels, KEBE Deputy Secretary General Leonidas Paschalides said at an online conference organised by Financial Media Way entitled "Brexit: what and how much is the impact on Cyprus".
As explained at the conference, the problem with imports comes up against the issue of documenting the origin of a product in order to avoid the imposition of an import duty under the UK-EU trade agreement, while Cypriot exports do not face such a problem, since the origin is documented. At the same time Cypriot importers seem to have replaced the UK with other European countries such as the Netherlands and Italy.
(CNA)
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