While the date of Brexit, 31 October, is approaching for the UK, political uncertainty continues. IKV Chairman, Ayhan Zeytinoğlu, commented on the latest developments. Chairman Zeytinoğlu, saying Brexit would damage the EU-Britain cooperation in many areas such as trade and cybersecurity, also drew attention to the negative consequences for Turkey. Chairman Zeytinoğlu commented on what might happen during the Brexit process:

“The Brexit process has reached a critical stage. The House of Commons will be suspended on 9 September. By this date, anti-Brexit lawmakers plan to take control of the government in a way that will prevent Brexit without agreement. In the critical vote, the authority to determine the agenda passed from the government to the deputies. The House of Commons then passed a new law requiring a further postponement for the withdrawal of membership if no new agreement was reached with the EU by 19 October. Prime Minister Boris Johnson plans an early election on 14 October. His aim is to renegotiate the withdrawal agreement with the EU, and if the EU fails to do so, to leave the EU on 31 October, even without any agreement. The early election decision requires a 2/3 majority of the Parliament, which seems difficult for Johnson to achieve. Lastly, the opposition parties agreed not to allow snap elections before the extension to the 31 October, the date of Brexit.”

Chairman Zeytinoğlu stated that the top priority should be to avoid a no-deal Brexit, which will have serious consequences for both the EU and the UK:

“In the short amount of time until 31 October, the main priority for both the UK government and the EU should be to find a formula that will secure the avoidance of a no-deal Brexit. Therefore, the House of Commons' efforts to prevent no-deal Brexit should not be undermined. The government should follow a strategy which will take Brexit supporters’ views into account and will not harm UK-EU relations at the same time. A snap election might seem as a way out, but on the other hand it could make the existing deadlock even more inextricable. The EU can help the UK government to resolve this dilemma and issue an additional clause or declaration to alleviate the concerns of Brexit supporters, even if it does not renegotiate the agreement.”

Finally, Chairman Zeytinoğlu highlighted the possible impacts of Brexit on Turkey:

“In Turkey, especially the business community is watching the process closely. In case of a no-deal Brexit, the cost of disruption in trade will be high. The UK is our second largest trading partner in the EU and a country to which we have trade surplus. It is very important to take measures in order not to face the obstacles again, such as customs duty and delays at customs, after Brexit. At the very least, we expect an FTA to be signed which would protect the status quo in the Customs Union and bring up a more comprehensive trade agreement.”