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The UK Prime Minister, David Cameron, is currently embroiled in a campaign to renegotiate the UK’s membership of the 28-nation trading bloc, and could reach a deal with EU partners at a summit next month, opening the way for a public vote in June.
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In response to Cameron’s efforts, Dudley said: "I think Europe can be more competitive… I think Europe needs Britain."
In general, larger British businesses have spoken out in favour of the EU, as they accrue considerable benefits from tariff-less trade, while smaller firms are more impacted by the trading bloc’s excessive regulations.
This news comes after the Chief Executive of Royal Dutch Shell, Ben van Beurden, also warning about the negative consequences of his company’s UK interests if the British public were to vote to leave.