OPINION: BREXIT
For once, it helps that the photonics content is often hidden, embedded within the product or process, meaning nationalism or protectionism is less likely to impact the choice of supplier. Quality, price, service, performance and, most importantly, benefit-added are more likely to determine supplier choice. Of course, some areas of the world are associated with certain product traits – for example reliability, innovation, costs and so on – but this is due to reputation for the required attribute, rather than location itself. This makes photonics close to an economist’s ideal market, where free trade benefits and grows the market for all participants. However, the more perfect the model, the greater the sensitivity to disturbance and disruption. Since photonics thrives on a global market place and free trade, anything that hinders that free trade reduces the photonics market. This is true of regulations such as ITAR in the USA, and is equally true should the United Kingdom leave the European Union. A Brexit would cause inexorable damage to the photonics market; not just in the UK, but globally. No matter what trade
agreements could be reached, all sides agree they would take time to negotiate. Whether that is two years or five is irrelevant, both are an eternity in an industry that is developing and growing three to four times faster than the rest of the economy. Faced with such uncertainty if Brexit occurs, businesses will make supply chain choices with less risk, which will hurt UK photonics exports, but also results in geography gaining just that little more weight in purchasing decision relative to excellence everywhere. I therefore hope the UK
remains firmly part of the European Union, working with our friends and colleagues across
@electrooptics |
www.electrooptics.com JUNE 2016 l ELECTRO OPTICS 11
the continent and the globe. However, it is also prudent to plan for all eventualities. Fortunately, thriving in the face of adversity is an inherent British trait and the photonics trade has already proven to be vibrant, not just within, but also between existing trading blocs. Should the UK vote to leave, the natural reaction of the
UK photonics industry will be to improve their excellence further, in order to outweigh the uncertainty of future trade arrangements. The global world of photonics is not a roundabout one can easily get off; indeed it is only likely to grow stronger, as our technology becomes critical to an ever rising number of essential products and
services. Therefore, no matter the result of the vote on 23 June, I look forward to seeing photonics in the UK, and internationally, continue to grow, buying and supplying light-based technology of all types on a global scale. l
References 1
Office for National Statistics, TOPSI: Manufacturing Export Turnover 2015
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