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The Implications of Brexit and Pakistan’s Current Trade Policies

Updated: Sep 3, 2018

The following snippet appeared in the Business Recorder, one of Pakistan's most prominent daily economic journals, featuring the expert opinion of our founder Dr. Pál Belényesi.

"As time passes, it becomes clearer that Brexit is not going bring positive changes to existing international trade patterns in the short-term. Empirical studies suggest that Brexit will cause backdrop in economic growth both in the medium- and long-term, and both for the European Union nor for the United Kingdom. In the light of the contemporary trade policies of the US administration (if there is any), Brexit becomes even less attractive. Though “trade war” may be a bad jargon and highly epitomized as an exaggeration of what is happening, the reality is that hard-headed neighbourhood negotiation tactics and international business relations do not always march hand in hand. Celebrating battle victories is both ingenuous and misfortunate. In return, especially in the light of the very recent EU Council conclusions, the otherwise careworn European economic bloc will not sit around either: America can confidently count on selective tariffs, legal disputes in the WTO, and reinforced attention to bilateral trade deals with countries around the world. The July meet between Presidents Juncker and Trump bring little change into that..."

Click HERE to read the full article.



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