“Whatever the outcome on Brexit, the British market will remain competitive”
28 days away from the UK’s exit from the European Union, the President of the Malta Chamber of SME’s believes that whatever the outcome between the two sides, the British market will remain competitive for Malta. The Maltese Government has taken care to provide businesses with the necessary training as part of the transitional process in the wake of the new realities that Brexit will bring.
On 1 January the United Kingdom will no longer form part of the European Union. Brexit is finally happening, even if later than expected. So far the European Union is still negotiating certain issues with the British Government relevant to all member countries, including customs and trade issues.
Asked what the effects will be for Maltese businesses that depend on the British market including imports, Paul Abela, President of the Malta Chamber of SME’s said that he believed that no matter the outcome, the United Kingdom would remain a competitive market for Malta.
“It remains to be seen. As for prices, we still don’t know what will happen. I assume that England will be able to be competitive now, like China and America. ”
Leandro Borg, Head Co-ordinator within the Ministry of Interior and European Affairs told TVM that a lot of work had been done to provide businesses with the necessary training.
“The Government is carrying reaching out to the business community for any eventuality/ agreement reached by the end of this year.”
Parliamentary Secretary for European Funds Stefan Zrinzo Azzopardi said the Government was ready for any possible scenario.
“We are looking at the possibility of three scenarios and we have catered for each scenario -coordinating work and providing information to all stakeholders. ”
As of this week, European leaders are expected to meet to discuss Brexit at a European Council meeting.