Gibraltar Intensifies Business Links with the Commonwealth

February 1, 2021

The Commonwealth Enterprise & Investment Council (CWEIC) is delighted to announce the official opening of its CWEIC Gibraltar Hub.

Gibraltar’s departure from the European Union, coupled with the devastating impact suffered from Covid-19, represents a significant challenge for Gibraltar. It also provides the chance for bold and innovative solutions. As the world pauses to reflect on the impact from Covid-19 and the UK’s departure from Brexit, businesses acknowledge that there will be a re-drawing of the trade landscape. The exciting opportunities presented by many Commonwealth countries has been made ever more apparent. The opening of the CWEIC Gibraltar Hub comes at a pivotal time in which we naturally turn our heads to the opportunities that the Commonwealth has to offer.

CWEIC is a not-for-profit commercial organisation with a mandate from Commonwealth Heads of Government to promote trade, investment and the role of the private sector across the Commonwealth. With almost 100 business and Government Strategic Partners from 30 countries and territories, we have a mandate to facilitate trade and investment throughout the 54 member nations of the Commonwealth. Every two years, CWEIC hosts the Commonwealth Business Forum in association with the Commonwealth Chair-in-Office.

Today the Commonwealth comprises one third of the world’s population or around 2.4 billion people: 60% of whom are under 30. Commonwealth countries have some of the fastest growing economies; with a forecast to have over one billion middle class consumers and 40% of the global workforce in the next two years. All Commonwealth countries benefit from the rule of law; use of the common law and have English as an official language (sometimes alongside others). Commonwealth countries have cultural and sporting links and, often, a similar approach to the world and shared values. Research by the Commonwealth Secretariat and CWEIC has found that the combination of these factors makes its 19% cheaper to do business across the Commonwealth. We call this the ‘Commonwealth Advantage’.

CWEIC relies heavily on its growing network of Strategic Partners of senior government and business leaders from across the Commonwealth to create a global network to facilitate trade and investment. Therefore, the CWEIC are extremely pleased to announce that Gibraltar Finance, Visit Gibraltar and the Bassadone Automotive Group have joined its network of Strategic Partners.

CWEIC Gibraltar Country Director, Jared Peralta, said: “We are thrilled to announce that our CWEIC Gibraltar Office is officially open. Over recent months, I have had the pleasure of meeting many businesses across Gibraltar, all whom have warmly welcomed the news and have shown a genuine interest in the opportunities that are presented by the Commonwealth and its emerging markets.

After having met with numerous businesses and individuals I began to realise the true extent of our involvement with the Commonwealth which sometimes not acknowledged. For example, Bassadone Automotive Group who have over the years, sent thousands of specialist vehicles, converted in Gibraltar, to NGO’s across the Commonwealth and beyond. Specialist vehicles which include specially adapted Covid-19 ambulances for developing countries.

There are numerous businesses operating from Gibraltar that already have offices in certain Commonwealth countries with the desire to expand even further. The amount of talent we possess in Gibraltar is truly remarkable given its small geographic size. We are positioning ourselves as global leaders in certain industries, with a strong appetite to diversify and expand into new markets.”

CWEIC has an exciting schedule of events lined up for 2021 commencing with a CWEIC Gibraltar focused webinar on the Port & Shipping sectors, featuring Minister Daryanani as a key panellist. In previous webinars, CWEIC has hosted keynote speakers ranging from Nobel Prize winners to former UK Prime Ministers covering a plethora of topics and issues.

This June, ahead of the Commonwealth Heads of Government Meeting (CHOGM) in Kigali Rwanda, CWEIC will be hosting the Commonwealth Business Forum (CBF) themed: A Reset For The Commonwealth.

CBF is a senior leadership Forum where matters influencing Commonwealth business and trade are discussed at the highest levels. CBF2021 will be a unique interaction between government and the private sector, setting the agenda for Rwanda’s two years as Chair-in-Office of the Commonwealth as it takes over the position previously held by the UK Government. CWEIC also continues to launch initiatives to help its members such the Tourism Bounce Back Campaign and the Commonwealth Legal Network.

In addition to its global goals, locally through our Strategic Partners, CWEIC is aiming to create a truly Gibraltar PLC team spanning key industries and emerging sectors. CWEIC hopes to create synergies between different sectors and combine resources for the benefit of Gibraltar as a whole.

Alongside its Global Advisory Council Meetings, CWEIC aims to host Gibraltar Advisory Council Meetings which will provide local Strategic Partners with the unparalleled opportunity to help shape and direct our future trade with the Commonwealth. Covid-19 permitting. Gibraltar also hopes to invite CWEIC Chair Lord Marland to inaugurate its Commonwealth office in Casemates Barracks.

CWEIC Chair Lord Marland said:
“I welcome the opening of the CWEIC Gibraltar Hub and would like to take this opportunity to thank the Deputy Chief Minister for his vision and hard work to maximise the trade and investment opportunities for Gibraltar across the Commonwealth, and indeed for Commonwealth businesses wishing to base in Gibraltar. This is an exciting partnership as the world emerges from Covid.”

For more information, please contact:
Jared Peralta
CWEIC Gibraltar Country Director
jared@cweic.org
+ 350 5600 4335