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What will be the impact of Brexit on GCC ?

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Question added by PRADEEP MEHRA , CEO , Angel international Inc.
Date Posted: 2016/06/29
Sheikha Maryam Desiree  Aleman
by Sheikha Maryam Desiree Aleman , General Manager , Disha Material Building/K.I

En un mundo en el que ya abundaban los riesgos, la sombra del 'Brexit' engorda la lista. "Creemos que activaría la aversión al riesgo, afectando sobre todo a los activos europeos", advierten de Deutsche AM.

Hasta que se conozca el resultado de la consulta del 23 de junio, es tiempo de conjeturas. Al economista británico John Maynard Keynes se le deben los míticos 'Las consecuencias económicas de la paz' y 'Las consecuencias económicas de Mr. Churchill'

 

In a world that already abounded risks , the shadow of ' Brexit ' fattens the list. "We believe that trigger risk aversion , affecting mainly to European assets ," Deutsche warn AM . Pending the outcome of the consultation of June 23 is known, it is time to conjecture. British economist John Maynard Keynes owed ​​the mythical ' The Economic Consequences of Peace "and" The Economic Consequences of Mr. Churchill ' .Impact of Brexit, Its same.

Mohamed Elgabry
by Mohamed Elgabry , Commercial Sales Director , Hadaaed Specail Steel Factory& Shaaban Steel Co .LTD

first of all sorry i am not get mean of brexit but i understant your quastions as i understant you ask for SWAT analyese you ask for threat , the problems in GCC market now looking for any quality not like before ask for Eurobian USA , ---etc but now chinees ok or any other quality the important price only .

this is of most sector expect petrolume.

 

 

Shihabudheen Abu Backer
by Shihabudheen Abu Backer , Supply Chain Manager , BAUER KOMPRESSOREN GCC FZE

Brexit is a term used for the departure of UK from the EU – European Union.  The question relates the consequence of ‘Brexit’ and how it affects UAE.

This is a broad question. But there are specific common current features, based on it, we will discuss:

A)   UAE is an importing or consumer state

B)  UAE – Jebel Ali port is the common window for major imports and transshipmet in GCC. 

C)   Oil and gas price crisis

There is a fear that Brexit will cause to increase the importing price, expecting UK pound will appreciate gradually.

Transshipment at Jebel Ali port from UK may reduced

Vulnerability over oil price will again smear salt on the wound; it will cause to reduce the purchase power

UAE Foreign affairs Ministry has to make separate policy, process, international ploys as ‘UK’ has separated and standalone.

I would consider an economic and political affects once UK departed from EU in UAE 

Krishna   KHASANIS  PMP
by Krishna KHASANIS PMP , Project Manager-Electrical , Larsen & Toubro Ltd, P T & D (International)

As positive impact of BREXIT on GCC - Now Gulf Countries can strike a direct trade agreement with Britain which was not easy earlier because of cumbersome EU free trade pact. After BREXIT bilateral trade between UK & GCC will improve.

However fall of pound will negatively impact the tourism industry, UAE in particular.  

Sandya Robert
by Sandya Robert , Academic Operations , Ibis educational services pvt ltd

I think there would be a mixed impact on GCC. There could be a positive impact towrds trade relations and investments in Britain. People who want to invest will find the present situation favourable for them, but those who already have investments might find a negative impact due to decline in value.

Akshay Kothari
by Akshay Kothari , Advisory Consultant , Akmah Global Advisors

Brexit is over a year now with no major issues being faced in GCC. Post Brexit I guess it would lead to greater British engagement with Gulf partners in a bid to offset economic and commercial volatility in Europe. After a year, it does not appear that British policy toward the Middle East, and particularly in the Gulf, has altered significantly. The Gulf is one of the few areas where Britain holds a natural advantage, partly through a sense of shared history but additionally through the soft asset of the British royal family, and this closeness offers the UK an opportunity. Rulers in GCC states have, in any case, no strong attachment to the EU, and they recall with frustration the failure of the lengthy negotiations for a Free Trade Agreement.

 

Although the UK will not officially leave the EU bloc until 2019, Brexit is likely to prove particularly timely for the GCC. Gulf states have approximately 55 million consumers and a combined gross domestic product of $1.5 trillion. Growth rates in the GCC may be slightly subdued due to low oil prices in the past couple of years, but are still much more attractive than Europe and Britain’s other trading partners.

mark wilson
by mark wilson , Finance Manager , Trust International Group

Gulf Cooperation Council a political and economic alliance of six Middle Eastern countries—Saudi Arabia,  Bahrain, Kuwait, Qatar, the United Arab Emirates, and Oman. Three years after haggling in the British Parliament, upheavals at the top of the government, and blaming Brussels to delay its exit, Britain concludes the chapter on approximately half a century of close ties with Europe at 11 p.m. Greenwich Mean Time, Jan. 31, 2020. You can read More Brexit for more information.

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