GFSB says framework agreement on Gib opens ‘new opportunities, and challenges’

The Gibraltar Federation of Small Businesses Board has welcomed the framework agreement for a treaty on Gibraltar’s future relationship with the EU.

The Federation said local businesses were already enjoying the benefits of normal frontier fluidity during what was “in effect” a transition period, alongside a continued good and co-operative relationship with Spain.

“Whilst any resetting of our relationship with the EU will not be without its challenges, it will also come with new opportunities, the GFSB said.

“The Federation is of the firm view that rising to those challenges is by far the preferable position to the alternative - no agreement and the only hard border caused by a hard Brexit in Europe - an outcome which would have had a significant negative impact on local business.”

The Federation said it looked forward to considering the details of the framework agreement and any resulting treaty.

“The improved frontier fluidity that a future agreement will deliver, will bring huge potential benefits to our members both in terms of improving and increasing the size of our member’s customer base as well as making life easier for staff and business owners,” the GFSB said in a statement.

“The possibility that mobility of goods will also be included in a future agreement will open up new markets for our members, as it will likewise bring challenges and new competition.”

“Gibraltar residents will enjoy unique access to the Schengen area which will no doubt prove to be an extremely attractive proposition for many, and is likely to assist in delivering continued economic prosperity for Gibraltar and indeed the surrounding area.”

The GFSB said it would work closely with the Gibraltar Government on future discussions as they related to the business community.

With over 350 members, the GFSB said it represented a large number of local businesses of all sizes and had first-hand knowledge and understanding of their concerns.