Chamber reacts to EU Referendum result

Despite the overwhelming support from voters in Gibraltar to remain part of the EU, the Gibraltar Chamber of Commerce is disappointed by the final decision in the UK to leave the European Union.  Gibraltar is bound by the UK’s decision.

Article 50 of the Lisbon Treaty sets out the process for the UK to cut its ties with Europe over a 2 year time frame.  David Cameron said in his statement earlier today that it should be his successor who invokes article 50 of the Treaty to begin this process.

The Cross Frontier Group, of which the Chamber was a founding member, will continue to work first and foremost in the interests of employers and employees on both sides of the frontier.

In the coming weeks and months there will be further developments and inevitable challenges and the Chamber will work with the Government of Gibraltar to respond accordingly. In the meantime, it should be remembered that Gibraltar has the highest number of jobs ever and its economy today is more diversified that at any time in its history.

The last thirty years have also demonstrated that Gibraltar has been able to transform its economic model entirely.  Gibraltar’s economy is highly adaptable and its resilience will serve us well in the months and years ahead.