"The CBI and business groups from across Europe, representing millions of employees, met with UK Prime Minister Theresa May on Monday (13 November).

They discussed the importance of positive progress in the UK-EU negotiations; the need for urgent agreement on a ‘status quo’ transition; and beginning discussions on a future economic relationship that draws on existing close economic ties.

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Commenting after the meeting, Carolyn Fairbairn, CBI Director-General, said: “With UK-EU trade worth more than 600 billion euros each year, business groups from across Europe used today’s meeting with the Prime Minister as a welcome opportunity to highlight the mutual importance of seeing real progress before Christmas. All business organisations present reiterated the damage a ‘no-deal’ scenario would do to trade. “A transition period reflecting the current arrangements remains the priority on both sides of the Channel. While businesses welcomed the Prime Minister’s Florence speech, we now need to move beyond warm words if jobs, investment and living standards are to be protected. “Moving to the next phase will enable discussions to gather momentum, so negotiators can focus on the future economic relationship. It’s in everyone’s interests that a good, unique final deal reflects the strength and depth of our existing relationship and integration. This will help promote prosperity and better living standards right across Europe for generations to come.”

Read full statement.