Finland’s former prime minister Alexander Stubb has urged European shipowners to be prepared for lengthy Brexit negotiations.
During his presentation named “What the hell is going on in the West? Beyond Brexit and Trump”, Stubb highlighted 2016 as a landmark year equal to 1945 and 1989 due to the latest political developments in the UK and US.
“Do not underestimate the complexity of the issues we are talking about, it is one of the largest members exiting," he told the main conference of European Shipping Week (ESW) in Brussels.
“Dealing with free trade within the Brexit context is not that simple and, unfortunately, it’s not going to be pretty either; be prepared for extended negotiations.”
Stubb told the ESW audience: “I don’t want to be over-dramatic but Brexit and Trump will change the way in which politics are run.
“I think that the leading role of the US as the undisputed superpower is over and China will become the new leader of globalisation.”
"Europe should show its teeth"
With regards to Europe’s role, Stubb suggested it is time for the continent to “show its teeth” and defend the European values that are “vital to shipping”.
Stubb highlighted the importance of technological developments that have appeared in the shipping industry as well.
He said: “The world as we know it will change and a lot of the western values are under threat.
“You should embrace technological change because it will change the way trade is done in the future.”
