Without a deal or agreement .. UAE makes gains from "Brexit"

The UAE will be one of the countries benefiting commercially from Britain’s exit from the European Union without a deal or agreement.

According to the Gulf newspaper, a recent study from the United Nations Conference on Trade and Development (UNCTAD) estimated the size of the gains that the country can derive at the level of exports at about 1.65 billion dirhams (450 dirhams). Million dollars), or 19% of the value of its exports to Britain.

She pointed out that the impact could be difficult for the small economies with which Britain has trade relations, and it could also be a painful blow to the exports of the European Union, at a time when it will be China has one of the biggest gainers, with gains of $ 10.2 billion, or 17% of its exports to Britain.

The study indicated that Britain should conclude bilateral trade agreements with its future partners to avoid Brexit losses without a deal.

According to the study, the European Union is expected to incur losses amounting to 34.5 billion dollars from its exports to Britain, and the second largest loser, Turkey will have a loss of its exports amounting to 2.4 billion dollars. < / p>

The study predicts that the United States will be the second largest gainer, adding 5.3 billion exports to the United Kingdom.

Pamela Cook Hamilton, UNCTAD’s Director of Trade and Commodities, said that Brexit is not only a regional matter, as Britain’s exit from the European Union will limit the ability of countries outside the Union to export to Britain. < / p>

The British market represents about 3.5% of world trade, and the Kingdom is an important trading partner for many developing countries.

Britain represented the fifth largest exporter in the European Union, with merchandise imports amounting to $ 680 billion, 360 of which were from countries in the European Union.

The study pointed out that Brexit without a deal will contribute to increasing imports from the UAE, Thailand, South Africa, Brazil and a number of countries.

It is expected that Britain's intention to reduce tariffs on its imports to countries most favored in its trade relations will be in the interest of many of the major exporting countries and enhance their competitiveness, and reduce the market share of the least competitive countries. .

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