Ma­jor­ity of Arabs in poll feels re­gion will be un­af­fected

7 Days in Dubai - - BUSINESS - Busi­

More than eight out of 10 Arabs polled in the UAE said they do not think Brexit will have an im­pact on the re­gion.

Bri­tain will be­gin the for­mal process of leav­ing the Euro­pean Union by the end of March 2017, the coun­try’s Prime Min­is­ter, Theresa May, said on Sun­day.

Bri­tain’s Trea­sury chief later warned it would re­sult in tur­bu­lence in the com­ing years for the UK econ­omy.

How­ever, the move does not seem to be spread­ing such gloom in the UAE.

Ac­cord­ing to a sur­vey by in­ter­na­tional man­age­ment con­sult­ing com­pany Ven­tures Mid­dle East, 82 per cent of the Arabs polled in the UAE be­lieve that the Brexit vote will have no im­pact on the Arab re­gion at all.

The sur­vey was con­ducted in Ara­bic and car­ried out among 2,308 Arab re­spon­dents in the UAE. The sur­vey in­cluded 870 Emi­ratis. It found that only 10 per cent of re­spon­dents be­lieve that there will be an im­pact on the Arab re­gion and out of those, 77 per cent think it will be a neg­a­tive im­pact on trad­ing be­tween Arab coun­tries and the UK and 71 per cent think there will be a neg­a­tive im­pact on Arabs in­vest­ing in busi­ness in the UK.

“The Brexit vote has def­i­nitely been a hot topic for the past cou­ple of months,” said Ibrahim Gerges, Direc­tor of Mar­ket Re­search for Ven­tures Mid­dle East.

“The re­sults of the sur­vey show that the ma­jor­ity of Arabs in the UAE think Brexit will not af­fect the re­gion, but of those who do, the sen­ti­ment seems to be that the vote will hin­der re­la­tions be­tween Arab na­tions and the UK.

“How­ever the real im­pact of Brexit on the Arab world re­mains an ab­stract un­til new reg­u­la­tions and trade agree­ments are put in place.”

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