Coloradans Keeps Eye On Brexit For Potential Impact

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DENVER (CBS4) - Local businesses are watching Brexit and the potential ramifications the decision could have here in Colorado, as the European Union is the state's number-one trading partner. The E.U.'s Head of Trade in the U.S. led a delegation in Colorado to discuss Brexit and its potential impact on the state.

European Union's Head of Trade holds delegation to discuss Brexit and its potential impact on Colorado. (credit: CBS)

Minister Tomas Baert said the terms of the separation between the United Kingdom and the E.U. will be critical to Colorado companies doing business in Europe.

Right now, the E.U. gives Colorado access to all 28 states in the union.

"Companies that might be located in the U.K. will no longer be able to sell their products directly on the E.U. market, which is the single largest market in the world," Baert said.

European Union's Head of Trade holds delegation to discuss Brexit and its potential impact on Colorado. (credit: CBS)

Colorado exports $5.7 billion in goods and services to the E.U., and the E.U. has invested about $21.5 billion in Colorado.

The trade and investment has resulted in the creation of 87,000 jobs.