May 18, 2021

Ortega and employers protect themselves to save from the'brexit' a business of 5.700 million – The Province

Ortega and employers protect themselves to save from the'brexit' a business of 5.700 million - The Province

The Canary Islands Government admitted yesterday openly that thebrexit will have negative consequences on the Islands. The departure from the United Kingdom ofEuropean Union (EU)threatens to deteriorate an annual turnover of more than 5,700 million euros. A new post-brexit scenario that entails risks for the many Canarian companies with interests in Great Britain and Northern Ireland, from where most of the tourists who visit the archipelago come every year. The Minister of Economy, Industry, Trade and Knowledge of the Regional Executive,Pedro Ortega, showed yesterday the concern in the bosom of the Government and exhorted the businessmen to adopt, "without delay", measures that allow to mitigate the consequences of Brexit and preserve that volume of exchanges with the United Kingdom.

Once discarded, at least in the short term, the possibility that the Canary-UK relationship enjoy a special status after the departure of the British community club, the regional government is now trying to make companies see the importance of protecting themselves in the face of future eventualities. At the opening of the seminar The Spanish company before the 'brexit', held at the Chamber of Commerce of Gran Canaria and which reported Europa Press, the counselor was clearer than ever to encourage the island business to analyze the future scenarios once consummated the divorce between the EU and the United Kingdom and how they can influence your business.

"It will fundamentally affect the agents of theprivate sector, to professional and economic operators, "admitted Ortega, who immediately highlighted the importance of companies" of all sizes, including small and medium-sized companies, preparing and taking action without delay. "How? the possible effect of a limit scenario on their business model, taking the necessary economic decisions and completing all the necessary administrative procedures before March 30, 2019. "In other words, putting themselves in the worst possible scenario: the one of a considerable depreciation of the pound, which would affect the purchasing power of the British and reduce the volume of tourists, and that of the strict consideration of theUKas a third country, which would make exports and imports more expensive due to the recovery of tariffs. "It entails imagining all the possible scenarios and evaluating all the risks, planning a response and reacting to the possible resulting situations," said the representative of the Canarian Executive.

In figures, the relationship of the Canary Islands with the United Kingdom represents around 13% of theGross Domestic Product (GDP)of the Autonomous Community. The expense of the British citizens who chose to spend their holidays in the Islands in 2017 amounted to 5,470.9 million euros. It is the highest figure in history despite the Brexit has already flown over the British economy; although, at the moment, without affecting the tourist business of the Canary Islands. In addition, the volume of exports – mainly vegetables – exceeded 50 million euros, and that of imports exceeded 176 million.


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