Gibraltar's financial landscape is set to change as it forges closer links with Spain. James Tippin...
Gibraltar's financial landscape is set to change as it forges closer links with Spain.
James Tipping, director of Gibraltar Finance, said for the first time in 15 years Gibraltar had been involved in tripartheid talks with the UK and Spain.
He said it was now hoped closer relations could be forged with its nearest neighbour.
He added: "There are a number of things we are discussing but the primary areas are joint commercial use of the airport and telephone roaming, which will allow Gibraltan telephones to work across the border in Spain.
"We also hope to see the removal of customs at the frontier to allow for free flow traffic between Gibraltar and Spain, as well as a decision on pensions for Spanish people, which has remained a problem since the Spanish were forced to leave Gibraltar before the border closed in 1962.
"Any agreements along these lines would send a real message to Spanish businesses and help develop a growing economic exchange with Spain."
Tipping also believed any agreements would further boost Gibraltar's presence in Europe by opening up a previously untapped market.
Gibraltar has remained committed to developing its presence in Europe after receiving EU status under the UK, to allow for passporting arrangements.
It has admitted growth outside of Europe, for example in the Middle East, was not on the agenda as it looked to develop its European presence.
He said by using its EU status, it also hoped to attract Swiss banks to the jurisdiction.
He explained: "We are not looking to compete with Switzerland, as we would with Dublin when it comes to insurance and Monaco for funds, but we do see enormous potential to offer services to Swiss institutions - particularly passporting opportunities from Switzerland to Europe not just in banking but also asset management and other related products."
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