March 28, 2017 / 7:46 AM / 5 months ago

Brexit will hurt business for German firms, DIHK says

BERLIN, March 28 (Reuters) - Britain's departure from the European Union will significantly hurt German firms' business with the United Kingdom and investment will decline strongly in the long term, the president of Germany's DIHK Chambers of Commerce said on Tuesday.

Four in ten companies expect business to weaken, DIHK President Eric Schweitzer said a day before Britain triggers divorce proceedings with the European Union.

"We should expect further declines in trade in the coming months," he added.

He said almost one in ten companies was already planning to withdraw investment from Britain even though the terms of Britain's departure are not yet known. (Reporting by Gernot Heller; Writing by Michelle Martin; Editing by Madeline Chambers)

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