BANGOR, Maine - Maine trade experts have been anticipating the outcome of the so-called Brexit referendum for weeks. On Friday, the world woke up to the news that UK citizens had opted to leave the European Union.
"I think this took everyone by surprise. All of the companies that I've been talking to in the UK were pretty confident that there was not going to be an exit," says Janine Cary, president of the Maine International Trade Center.
Cary says the UK is one of Maine's top 10 trade partners, with the state's industries exporting about $55 million worth of goods across the pond each year.
Just how the UK's withdrawal from the EU will affect Maine is yet to be seen. Cary says much will depend on the pound - a very weak pound against the dollar doesn't bode well for Maine sales to the UK.
"I guess one positive thing is that you're not talking about changing currencies," she says. "It's not on the euro system, so it wouldn't be changing from euros back to pound sterling. You know, I think everyone is kind of hopeful that that will balance itself out."
Immediately following the news, the pound took a dive, reaching its lowest rates against the dollar in 30 years.
Cary says one bright spot could be through increased investment dollars for Main. Investors, she says, are more likely to put their money into stable areas. And Cary says her group has been actively courting UK investors for the last three years, with the establishment of a Maine trade center in London.
