Brexit Implications for the Medical Device Industry
The exit of the UK from the European Union will have a direct impact on the millions of businesses across the combined region. At the eleventh hour, as a deal was agreed, the huge collective sigh of relief from businesses in the UK and EU alike was almost tangible!
Entering 2021 now the transition period between the UK and the EU has come to an end we discuss the key parts of the deal for businesses exporting and what this means for the medical device industry. Mi3 has prepared for every eventuality to ensure continuity of supply for all our customers.
The first and most important piece is that there are no trade tariffs being applied. However for the medical device industry this was already the case. The main changes that remain for businesses to understand in the medical device sector are largely logistical and administrative.
Logistics & Administration
Changes to documentation and customs requirements will have the biggest impact on any business wishing to export products to their EU customers. As a result, businesses trading with the EU need to deal with a significant increase in paperwork and customs compliance obligations. The cost of not understanding how the international customs environment now works could be significant.
Through early engagement with our logistic and supply chain partners, Mi3 have put the necessary process and paperwork in place to ensure the smoothest and most cost effective route through to our European customers. From ensuring goods clear customs promptly through use of T1 forms, thus avoiding the queues at the border, to having arrangements already in place for customs declarations to be completed, MI3 has ensured that any lead time impacts or costs have been kept to a minimum to ensure our customers continue to see "business as usual".
The Brexit Puzzle
We shouldn't lose focus. Whilst we know some of the terms of the Brexit deal there is still much of the puzzle to be decided and the implications understood. The effects will remain to be fully seen for some time to come. It is important to keep in touch with these changes and ensure that you and your business don’t fall foul of any additional changes.
By partnering with Mi3 we can help ensure that as any further changes arise you will know what effect that will have for you and your business whilst we will work to ensure that your supplies remain unaffected.
Mi3 are expert contract manufacturers of medical devices. Our purpose built class 7 and class 8 cleanrooms are designed for precision injection moulding, extrusion, assembly and packaging of medical devices, IVD's and other plastic devices and scientific products. We look forward to partnering with you to produce your medical devices, helping you and your business negotiate the challenges that the ongoing exporting changes bring so that we can grow and succeed together.
Please speak to us today and let’s explore how we can help you.