Simon Penny, Her Majesty's Trade Commissioner for the Middle East, Pakistan and Afghanistan, is optimistic that the Gulf countries - and British companies operating in the region - stand to benefit from the UK's departure from the European Union. As Her Majesty’s Trade Commissioner for the region, Simon Penney has an enormous task in front of him, with a remit stretching from the GCC to the Levant, Iran, Pakistan and embattled Afghanistan. But rather than be daunted by the enormous geographical scope of his job at a time in which the spectre of Great Britain’s exit from the European Union (EU) looms over the world, the former Royal Bank of Scotland (RBS) CEO is confident. Brexit, he says, will be a “positive story” in the Gulf. Looking to the future, Penney – who also served as the head of wholesale and international banking at First Gulf Bank (FGB) between 2013 and 2016 – says the Gulf plays a crucial role in Britain’s trade plans across his region, accounting for £40bn ($50.83bn) of the UK’s £45bn ($57.19bn) worth of trade with the 12 countries that fall within his purview. This figure, he explains, is set to soar to new heights as British companies increasingly look beyond Europe, with a rising number of British firms doing business outside the EU forming a significant part of the government’s aim of increasing trade’s contribution to GDP from 30 to 35 percent. “[Brexit] is incredibly politically charged at the moment, for very obvious reasons. A lot of the focus is on the terms upon which the UK withdraws,” Penney tells Arabian Business. “If you look beyond withdrawal, and you look at the basis upon which the UK will trade going forward, it’s a very positive story, certainly for this part of the world.” [At the time of writing, the UK is still scheduled to leave the EU at 11 PM UK time on Friday, March 29. There remains a possibility that a delay will be requested, as well as a chance that a second referendum may take place, which may lead to Brexit not taking place at all. At the forefront of Britain’s aim of boosting the GDP contribution of exports, Penney says, will be British companies who at the moment are exporting solely to the EU, or not exporting at all. “We’re not going to do that with the existing number of companies that export,” he explains. “A very significant focus of our export strategy [is getting] more companies to focus on exports.” At the moment, Penney adds, there are approximately 400,000 export-ready firms in the UK that do not currently export – but will now be in a better position to join the thousands of British firms that are already present in the region, including 6,000 operating in the UAE. “Our job in the region... is to identify and provide opportunities for those companies to export,” he says. Penney says that the relative ease of doing business in the Gulf countries – largely because of low tariffs – means that the British government can focus more on bilateral areas of its trade relationship with countries in the region in which governments can work together, such as food import regulations. “These are non-tariff barriers. They are more mechanical things that you can resolve today. You don’t need a free trade agreement and you don’t need to leave the EU to sort these things out,” he explains. “As far as we see things at the moment, it’s still very much business as usual in the immediate aftermath of Brexit.” AFP.