Pascal Lamy: Expect a hard Brexit and a soft Trump

Former Director-General of the World Trade Organization and former European Trade Commissioner Pascal Lamy (right) with Chief Executive of Asia House Michael Lawrence (left). Photo by Martyn Hicks

Former Director-General of the World Trade Organization and former European Trade Commissioner Pascal Lamy (right) with Chief Executive of Asia House Michael Lawrence (left). Photo by Martyn Hicks

Pascal Lamy: Expect a hard Brexit and a soft Trump

17/03/17

By Lucy Tomlinson

The UK’s “full exit” from the EU will probably take a decade to complete, according to Pascal Lamy, former Director-General of the World Trade Organization (WTO) and former European Trade Commissioner. In an interview with Asia House on Friday, Mr Lamy said that once Article 50 is triggered – which the UK Government has said will be by the end of March — “the full exit will probably be there 10 years from now” and the process will be “long, complex”.

“We have to be ambitious,” he told Asia House. “But we have to know that the more ambitious we are, the longer and more complex it will be.”

Watch the full interview below.

 

 

The interview followed a private briefing at which Mr Lamy shared his insights on the future of EU-UK relations with Asia House corporate members. The event was part of the Asia House Brexit Series.

Discussion points covered at the briefing included the UK’s WTO membership; the Brexit timeline; the UK’s trade policy upon leaving the EU; Scotland’s position as part of Brexit discussions; and the Brexit bill.

Mr Lamy was Chief of Staff for the former President of the European Commission, Jacques Delors, from 1985 to 1994. He went on to join Credit Lyonnais (LCL) as CEO until 1999 before returning to Brussels as European Trade Commissioner until 2004. He served two terms as Director-General of the WTO from 2005 to 2013.

Corporate members represented at the table included HSBC, KPMG, Mitsui & Co. Europe, UOB, Prudential, King’s College London, Telstra and Standard Chartered.

lucy.tomlinson@asiahouse.co.uk

The Asia House Brexit Series continues on 22 March with a briefing from Shriti Vadera, Chairman of Santander UK. She will discuss the future of financial services in the City post-Brexit. More information

On 20 March, Indonesia’s Minister of Finance Sri Mulyani Indrawati will brief Asia House corporate members on the economic climate in Indonesia, regional and global issues and Jakarta’s responses. More information