LONDON: Britain is drawing up contingency plans in case its Brexit negotiations with the EU fail, a minister said Sunday as speculation mounted that the withdrawal process could start this week.
Brexit Minister David Davis said it was in “everybody’s interests that we get a good outcome,” but said the government was “planning for the contingency, all the various outcomes.”
He was speaking after MPs warned that ministers must prepare for the possibility that, with EU treaties allowing just two years to agree a new relationship, Britain might well leave without a deal.
Prime Minister Theresa May has said she is optimistic about settling the divorce and a new trade agreement with the EU within the timeframe, but would walk away rather than accept a bad deal.
The cross-party parliamentary foreign affairs committee said this “represents a very destructive outcome leading to mutually assured damage for the EU and the UK,” citing economic losses and legal confusion.
Davis told the BBC he did not think that was “remotely likely,” adding: “There will be tough points in this negotiation. But it’s in absolutely everybody’s interests that we get a good outcome.”
The MPs noted that the previous government had not prepared for the shock vote to leave the EU in the June referendum, something they called “gross negligence.”
“Making an equivalent mistake would constitute a serious dereliction of duty by the present administration,” they said in the report.
A bill empowering May to trigger Article 50 of the EU’s Lisbon Treaty and begin the withdrawal process returns to the House of Commons on Monday for debate.
Without further opposition, it could pass the House of Lords that night. After it is rubber-stamped by Queen Elizabeth II, May could start Brexit at any point.
Asked when the process might start, Davis noted that “in theory it is the point at which you have royal assent,” but refused to confirm a date.
“Each date has different implications in terms of when it can be responded to by the Council (of EU leaders),” he said.
One factor could be the Dutch elections on Wednesday. Keir Starmer, the Brexit spokesman for the opposition Labour party, repeated to Sky News that he expected the government to start Brexit “probably on Wednesday or Thursday.”
Britain plans for all options as Brexit nears: Minister
Britain plans for all options as Brexit nears: Minister
Saudi investment pipeline active as reforms advance, says Pakistan minister
ALULA: Pakistan’s Finance Minister Mohammed Aurangzeb described Saudi Arabia as a “longstanding partner” and emphasized the importance of sustainable, mutually beneficial cooperation, particularly in key economic sectors.
Speaking to Arab News on the sidelines of the AlUla Conference for Emerging Market Economies, Aurangzeb said the relationship between Pakistan and Saudi Arabia remains resilient despite global geopolitical tensions.
“The Kingdom has been a longstanding partner of Pakistan for the longest time, and we are very grateful for how we have been supported through thick and thin, through rough patches and, even now that we have achieved macroeconomic stability, I think we are now well positioned for growth.”
Aurangzeb said the partnership has facilitated investment across several sectors, including minerals and mining, information technology, agriculture, and tourism. He cited an active pipeline of Saudi investments, including Wafi’s entry into Pakistan’s downstream oil and gas sector.
“The Kingdom has been very public about their appetite for the country, and the sectors are minerals and mining, IT, agriculture, tourism; and there are already investments which have come in. For example, Wafi came in (in terms of downstream oil and gas stations). There’s a very active pipeline.”
He said private sector activity is driving growth in these areas, while government-to-government cooperation is focused mainly on infrastructure development.
Acknowledging longstanding investor concerns related to bureaucracy and delays, Aurangzeb said Pakistan has made progress over the past two years through structural reforms and fiscal discipline, alongside efforts to improve the business environment.
“The last two years we have worked very hard in terms of structural reforms, in terms of what I call getting the basic hygiene right, in terms of the fiscal situation, the current economic situation (…) in terms of all those areas of getting the basic hygiene in a good place.”
Aurangzeb highlighted mining and refining as key areas of engagement, including discussions around the Reko Diq project, while stressing that talks with Saudi investors extend beyond individual ventures.
“From my perspective, it’s not just about one mine, the discussions will continue with the Saudi investors on a number of these areas.”
He also pointed to growing cooperation in the IT sector, particularly in artificial intelligence, noting that several Pakistani tech firms are already in discussions with Saudi counterparts or have established offices in the Kingdom.
Referring to recent talks with Saudi Minister of Economy and Planning Faisal Alibrahim, Aurangzeb said Pakistan’s large freelance workforce presents opportunities for deeper collaboration, provided skills development keeps pace with demand.
“I was just with (Saudi) minister of economy and planning, and he was specifically referring to the Pakistani tech talent, and he is absolutely right. We have the third-largest freelancer population in the world, and what we need to do is to ensure that we upscale, rescale, upgrade them.”
Aurangzeb also cited opportunities to benefit from Saudi Arabia’s experience in the energy sector and noted continued cooperation in defense production.
Looking ahead, he said Pakistan aims to recalibrate its relationship with Saudi Arabia toward trade and investment rather than reliance on aid.
“Our prime minister has been very clear that we want to move this entire discussion as we go forward from aid and support to trade and investment.”
