You can download the full magazine in high-quality PDF format here.
Welcome to the launch edition of Gibraltar Business, the voice of Gibraltar’s
business community. The magazine’s launch heralds a new dawn for the Chamber of
Commerce as Gibraltar stares down the threat of what Brexit might bring to the local
business community. The magazine is a platform for the Chamber as an institution
and equally for the members and we hope that all members will derive a benefit from
it, whether as a reader, as a member who has submitted an article or as an advertiser.
Our aim is to become the standard bearer for Gibraltar’s business community, but to
do this effectively we need to have engagement from our members on a regular basis.
Please let us know what you think.
The last three and half years have brought repeated uncertainty for local companies
about how the possibility of leaving the European Union might affect their prospects.
Without delving into a detailed chronology of the Brexit drama to date, it is with relief
and a source of some satisfaction that Gibraltar has managed to navigate the choppy
economic waters which the whole saga has presented since 2016. But it is far from
over. Threats of closure or rumours of entire sectors of the Rock’s business community
relocating to other jurisdictions which are within the the EU has not happened. In
fact, against all expectations, employment and inward investment into Gibraltar have
remained robust since the 2016 referendum.
Nonetheless, there is still much uncertainty ahead. So what can be done to try and
mitigate such uncertainty?
The re-election of the GSLP/Liberals into government will greatly help to ensure
continuity against an uncertain backdrop. They have been at the heart of efforts to
ensure that Gibraltar’s voice is heard among the UK politicians during the protracted
negotiations between the UK and the EU. Their efforts have also helped to ensure that
Gibraltar continues to enjoy wide cross-party support in the UK parliament.
One of the more tangible outcomes of their hard work is the signing of a double
taxation agreement between Gibraltar and the UK. This will give much-needed
certainty to investors and businesses operating on a cross-border basis. It will also
help to answer the klaxon call for increased transparency. Gibraltar may be small but
like jurisdictions elsewhere, it will continue to come under periodic scrutiny from
the international media, investors and regulators. We should be ready to meet such
scrutiny head on, confident in the regulatory structures, procedures and international
agreements which we have in place.
There is still a long way to go in the Brexit story and we cannot know where it will
eventually take us. We have no choice but to keep moving forwards. Together.