Former British High Commissioner to The Bahamas Peter Young says The Bahamas will soon endure the implications of Britain leaving the European Union.

While a guest on JCN’s “Jones and Co.” he said this could have a negative impact on The Bahamas, however a short term one.

“85 per cent of our trade is with the rest of the world, of course its going to affect and we have to acknowledge there’s going to be a period of disruption,” he said

“It could do [harm], The other arguments were more persuasive.”

“But the calculations were that this disruption would b short term, relatively short term.”

Mr. Young said that the governor of the bank of England assured the British public that there were sufficient funds in preserve and that was assuring for markets and investors.

On Thursday, the British electorate voted 52 per cent to 48 per cent in a referendum to leave the EU.

The EU which is a political and economic partnership with 28 European countries trade together to foster financial co-operation.

The UK and The Bahamas have fostered a relationship for years despite The Bahamas being an independent nation and both nations share a mutual interest in trade, economics, education, health, tourism and security.

On Friday, The Ministry of Foreign Affairs released a statement saying that The Bahamas will continue to foster this relationship.

“The Bahamas is fully confident that these relations will continue in the near term,” the ministry said.

“We have received assurances on that issue in a note to The Bahamas’ Foreign Minister Fred Mitchell and received today from the High Commissioner to The Bahamas David Fitton.

In the midst of the UK voting to leave the EU, British Prime Minister David Cameron had said he will step down effective October.

Mr. Young said the prime minister decided to step down due to his strong views on the referendum.

“I think its very sad that he should go. I think he feels that it wouldn’t be right for him to be in charge, given his passionate view and campaign to stay in Europe,” he said.

“It’s a matter of judgment. I think people, including Boris Johnson, he said that when the results had come through he praised Mr. Cameron. He appears to have taken that decision to soon.”

“He seems to feel as though he may not be the right person to stay and negotiate.”

“This is a matter of judgment. There’s no automaticity about it. He not forced out. It’s a political judgment.

Recently in the wake of the resounding no to the gender equality referendum, many have called for the resignation of Prime Minister Perry Christie.

However, Mr. Christie has said he will not step down and he feels as though the referendum was flawed as the Bahamian people voted no as a payback to the PLP.