According to RBCC (Russo-British Chamber of Commerce) Director, Alan Thompson, Britain’s vote to leave the EU (European Union) opens opportunities for business development and trade relations between Russia and the United Kingdom.
The UK government’s official position was to expand its British companies to exportation. Russia for instance, will have its huge opportunities given by UK.
After Brexit was confirmed, the influential mayor of Moscow Sergei Sobyanin, tweeted, “there will no longer be anyone so zealously standing up for sanctions against Russia”.
Meanwhile, Cecilia Malmstrom, European Union’s top trade official told reporters, “First you exit then you negotiate,” adding that after Brexit the UK would become a “third country” in EU terms which means trade would be carried out based on WTO rules until a new deal was complete.
UK business groups have already called on the government to take instantaneous and clear-cut actions to prevent sudden jolt on British economy as a result of leaving the EU.
On its ASEAN (Association of Southeast Asian Nations) counterpart, ten countries are involved in one of the most ambitious regional economic integration.
In 2015, ASEAN officially launched the ASEAN Economic Community (AEC), the goal is to create a “highly integrated and cohesive economy.”
A report by the ADB (Asian Development Bank) noted that “closer trade integration between ASEAN member-countries under the AEC could, by 2025, lift aggregate output by as much as seven percent.”
Because of Brexit, implications being strained in the level of discontent in terms each countries—immigration, economics, and trade policies.
Indonesia’s Trade Minister Thomas Lembong said, Brexit is a wake-up call for ASEAN to make trade agreements more in touch with the needs of working people and not projects of the elites.
Director Lee Yoong of ASEAN’s Community Affairs said that the broader impact of Brexit is in ‘no rush’ with ASEAN. Adding that, “We do our integration at our own pace, at our own speed. We do not worry what the West or the Europeans tell us to do.”
Meanwhile, a senior analyst in Singapore’s Institute of Defense & Strategic Studies Ei Sun Oh, believed, “over the years EU has deteriorated from an idealistic grand European design for peace and prosperity into a more or less intractable, unaccountable bureaucratic mess with internal dictatorial tendency.”
Although opinions on the impact of Brexit vary for ASEAN, AEC is facing serious headwinds in its constituent countries, where the currents of nationalism and non-intervention in sovereign affairs are strong amid the forces of globalization.