On Bauer Business Focus – a conversation on the impact of Britain’s decision to exit the European Union.
British Consul General Karen Bell stopped by Bauer Business Focus to discuss the recent vote by Britain to leave the European Union and the economic effects the decision may have on the Houston community.
“Our trade and investment relationship with Houston and the rest of Texas is incredibly important to us,” Bell said. “We are the biggest foreign direct investor here in the state. Lots of Texas businesses contribute to the role that the U.S. as a whole has as our largest source of overseas investment in the U.K.”
Despite the economic implications that the Brexit decision will have on the UK as a whole, Bell said she does not anticipate a dramatic change in trade relations between British and Houston industries.
“I think that because the economic fundamentals are sound and because nothing on the ground has actually really changed in practical terms, people should still very much look at the U.K. as their partner of choice here in Houston,” she added.
As for whether or not Britain may consider redoing the vote following backlash from the results, Bell emphasized the permanence of the decision.
“We were very clear from the outset that this was a once in a generation opportunity to have a say on our membership of the European union. An enormous number of Brits — 33 million people — took the opportunity to have their say. So the outcome is decisive,” she said.
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