Treaty allows Gib to look to EU and wider Commonwealth in ‘biggest Brexit dividend’ 

Lord Hugo Swire, deputy chair of the Commonwealth Enterprise and Investment Council, underscored opportunities across the Commonwealth as he called the UK/EU treaty on Gibraltar’s future relationship with the bloc the “biggest Brexit dividend”. 

Lord Swire visited the Rock to mark the continuing partnership between Gibraltar and CWEIC.  

He was welcomed during a reception at the Mayor’s Parlour in City Hall where he told attendees that events in the UK had “unfurled in the most extraordinary way” with the resignation earlier this week of British Prime Minister Sir Keir Starmer. 

He pointed out that it had been five years since CWEIC was established in Gibraltar and a decade since Brexit, adding that he has been learning about the treaty deal. 

“It makes me reflect that actually, when people talk about a Brexit dividend, ironically perhaps the biggest Brexit dividend is here in Gibraltar,” he said. 

“Because what it has allowed you to do is, rather like the mythological animal in Dr Doolittle, the pushmi-pullyu which looked both ways, is position Gibraltar in a way that it can look both into the EU as a participating member in terms of trade and so forth, but also outside to the wider world and in particular the Commonwealth.” 

“Perhaps there is a role as well for other countries like Spain, for instance, to work through Gibraltar to get access into the Commonwealth.” 

“So I am hugely excited by the opportunities that I think you face here and I wish you all the best as this all goes through.” 

Lord Swire said there is some “residual nervousness” in a monumental moment the treaty will bring but, he added, that Gibraltar is in a “better place today than it’s been for a very, very long time.” 

He said the “small role” the CWEIC plays will become increasingly important for Gibraltar’s aims and ambitions which extend beyond its traditional markets and into the wider world. 

Deputy Chief Minister Dr Joseph Garcia highlighted the work of the Commonwealth Enterprise and Investment Council, which he said has helped translate the ideals of Commonwealth cooperation into practical business opportunities.  

“By bringing together governments, investors and businesses, CWEIC has strengthened economic ties across the Commonwealth and created pathways for growth and investment that benefit all participants,” he said. 

Dr Garcia said he was delighted to welcome Lord Swire, describing how he brings a wealth of experience in public life and international affairs as a former Foreign Office minister. 

“Few people possess a greater understanding of the importance of building and sustaining connections across the Commonwealth,” Dr Garcia said. 

“This visit gives us an opportunity to celebrate what has already been achieved. At the same time, we can be confident that Gibraltar has much to contribute.” 

“We have developed internationally recognised expertise in financial services, digital technology, online gaming, maritime services and a range of other sectors.” 

“We are agile, innovative and internationally connected. The new treaty will open the door to new opportunities. These strengths position us well to engage with Commonwealth partners in ways that create value for all concerned.” 

Dr Garcia said the story of Gibraltar and the Commonwealth is one of growing engagement, deepening relationships and expanding horizons. 

He called the presence of CWEIC as an important chapter in Gibraltar’s story and he looks forward to seeing those links continue to flourish. 

Deputy Mayor Andrea Simpson welcomed Lord Swire and she described how CWEIC plays an important role in bringing together businesses, organisations and individuals from across the Commonwealth, creating valuable opportunities for collaboration and shared learning. 

“As a community, we take great pride in our place within the Commonwealth family,” Ms Simpson said. 

“Our links extend beyond commerce, encompassing cultural, educational and sporting ties that connect us with nations across continents and oceans and continue to inspire mutual respect and understanding.” 

“It is fitting this evening to reflect on a historical connection of a particular note. One of Lord Swire's ancestors, Major General Lord Montgomery, is interned at the King's Chapel at the convent here in Gibraltar.” 

“His memorial, accompanied by an inscribed poem, stands as a testament to the enduring links between Gibraltar and eminent figures within the broader British and Commonwealth tradition.”