(Bloomberg) --
BAE Systems Plc Chairman Roger Carr, who campaigned to keep Britain in the European Union before the Brexit referendum, said he is optimistic the U.K. will secure trade deals with both the U.S. and EU once it quits the bloc.
Speaking at the World Economic Forum in Davos, Switzerland, Carr said President Donald Trump's positive comments about an accord with Britain augur well, and that the U.K. needs to consider its trading relations on a broader front given its changing relationship with Europe.
“They've certainly got the backing of their president in leaning forward into the negotiations,” he said of the U.S. position in an interview with Bloomberg TV on Tuesday. “I remain cautiously optimistic that a deal of some sort can be done.”
Carr said the trade talks with the EU will be challenging given the complexity of the negotiations and the year-end deadline to reach a deal -- but that Prime Minister Boris Johnson and his administration appear convinced that they can deliver an agreement on schedule.
“I hear the commitment from government to get something done and I think they are making that with real enthusiasm,” he said. “There's a lot of serious belief that something can be achieved. They want to see this behind us.”
Carr has been chairman of Europe's biggest arms manufacturer for five years and previously occupied the same role at utilities Centrica Plc and Thames Water.
He said Chancellor of the Exchequer Sajid Javid's warning that businesses will need to adjust to new rules after Brexit because the U.K. won't align with European regulations in future represents no more than a view of what might happen.
“These negotiations haven't yet started,” he said. “It's unlikely we're going to have totally frictionless trade, and therefore there will be an adjustment. It's the degree of adjustment that's important.”
Companies understand that, and are focused on navigating “what will undoubtedly be tricky waters,” he added.
To contact the reporters on this story: Christopher Jasper in London at cjasper@bloomberg.net;Jonathan Ferro in Davos, Switzerland at jferro10@bloomberg.net
To contact the editors responsible for this story: Anthony Palazzo at apalazzo@bloomberg.net, Edward Evans, Andrew Noël
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