Chamber welcomes ‘In Principle’ Agreement on Schengen

The Board of the Gibraltar Chamber of Commerce welcomes the ‘In Principle’ Agreement between the Governments of the UK and Spain with regard to Gibraltar’s future relationship with the EU which was announced on New Year’s Eve.

It offers the possibility of preventing a hard border and also of unlocking the full potential of both Gibraltar and the Campo area so that the entire region becomes a magnet for greater investment leading to fuller employment and growing economic prosperity for all.

As clearly highlighted in both of the Economic Impact studies which the Gibraltar Chamber has commissioned over the last decade or so, the importance of Gibraltar’s economy to the entire region is unarguable and it is heartening that this is at last being formally recognised by politicians at a regional and national level in Spain.

In a similar vein, the work of the Chamber within the Cross Frontier Group has greatly helped to build economic and social bridges between the two communities in the last few years.  In doing so, the Group has argued that closer cooperation will lead to greater socio-economic development. This will benefit the workers, families and businesses on both sides of the border. 

As the Chief Minister cautioned in his New Year’s Eve statement, there are still many loose ends to settle in a short space of time.  Our members look forward to the satisfactory conclusion of the negotiations in the hope that they will all be able to participate in the promised shared prosperity which the Agreement aims to achieve.

As the largest private sector organisation in Gibraltar, the Chamber trusts Her Majesty’s Government of Gibraltar will work in close consultation with the Chamber in relation to the economic aspects of the Treaty so as to ensure they work for all to the largest extent possible.