Stockholm Chamber of Commerce - Sweden won’t sit idle by in case of Brexit

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International Trade

Sweden won’t sit idle by in case of Brexit

Brexit would be devastating on many levels, not only for the UK but especially for a country like Sweden.

The UK is one of Sweden’s best allies in the EU. We stand together on a wide array of issues for a more free trade-oriented and competitive Europe. For Stockholm, Europe’s fastest-growing capital, the UK is our most important economic partner.

It is in our direct interest that Britain remains part of the EU. The democratic process and the will of the British people must be respected. However, Sweden and Stockholm cannot afford to sit back and simply hope for the best.

We will start planning for a future in which the UK has left the EU. In specific, Stockholm can strengthen its position as a hub for headquarters in the event of Brexit. Stockholm is home to nine headquarters for businesses operating in global sectors, in joint eighth place worldwide. The UK has in total 21 headquarters operating within global sectors.

We are convinced that companies with headquarters in the UK would have an interest in reviewing where they locate their operations in case the referendum leads the country away from the EU. Sweden and Stockholm would then be an attractive alternative to the UK and London.

Maria Rankka

CEO, Stockholm Chamber of Commerce

Andreas Hatzigeorgiou

Chief Economist, Stockholm Chamber of Commerce

The article was published in Financial Times, "Europe’s fastest-growing capital will be planning for a post-Brexit world"