(Quebec) The vote on the withdrawal of the UK from the European Union (EU), Brexit, do not worry the leaders of the Québec area company. If we look at the few companies contacted by The Sun, for now, there are no consequences. Trade continue without hiccup.
At Optosecurity, management says it is too early to predict the long-term consequences. However, the communications manager for the Quebec company specializing in airport security, Roxanne Beauchesne argued that regardless of whether the UK leaving the EU or not, the British airports will still need security measures.
Louis Tetu, the vote to 51.9% for the withdrawal from the EU does not change in the affairs of his company, Optel Vision.
At more or less long term, business people can not say they are the consequences.
In the area of food, things might be different, says Sylvain Charlebois, Dean of the Faculty management, a professor of food distribution and policies, Dalhousie University. For him, Canada will not be spared.
“It’s a big loss, especially for Canada, because the UK is one of the biggest European partners. The trade deficit of the United Kingdom with Canada in the food industry is approaching $ 40 billion. More than half of our trade with the Continent are with the English. In the agriculture and particularly in the field of international trade, the challenge is enormous, “he says.
In his view, the future of the Canada-EU agreement is uncertain. He fears that the UK economy food closes on itself. “The food inflation rate could rise among the English. Since the importance of trade agreements also varies is at that time that Canada could feel the effects. ”
According to Desjardins analysts, the choice of leaving the EU has hit financial markets. Economists François Dupuis and Francis Généreux, the consequences for Canada and Quebec will be minimal, because “the most plausible hypothesis is that the UK and the EU will reach a negotiated end to limiting the impact on ‘economy. In the short term, the financial impact should be temporary, but there still will be economic and longer-term political effects. ”
At National Bank, Stefane Marion, Chief Economist and Strategist, do not expect that the British decision because a global recession, as central banks take measures to support investor confidence.
However, it considers that the strengthening of the US dollar is bad news for the global economy. “We expect a tightening of financial conditions. Emerging countries are particularly vulnerable because of the mass of loans they have made in USD. We now foresee lower prices of commodities in the coming weeks “, including the WTI oil price would fall to $ 40 a barrel.
As for Angelo Katsoras, geopolitical analyst for the National Bank, the British decision to leave the EU is a prime example of the rise of nationalism and protectionism across the globe.