Private Sector Is Key To Economy, Says Gibraltar Chief Minister

Iberia News

26 September 2000

This story is reproduced by kind permission of Iberia News at http://www.iberianews.com

The Chief Minister Peter Caruana has said that the private sector is the key to the local economy and that the survival of Gibraltar depends entirely on its success. In an address to prominent local businessmen at the annual Chamber of Commerce dinner, held at the Caleta Hotel, Peter Caruana criticised the recent industrial action by the civil service unions describing them as unnecessary, unjust and very damaging, to the local economy. He outlined that the pressures exerted upon Gibraltar from outside forces were already bad enough to also have to face internal actions which are not justified. The Chief Minister highlighted the need to work in conjunction with the business community for the further development of the local economy.

In his address the Chief Minister singled out relations with Spain as an area which he was keen to develop and that he would continue trying to enter into dialogue with the Spanish Government. Although stating that there was no value in having bad relations with Spain, Mr Caruana urged the UK Government to defend Gibraltar and "make Spain pay" for the blocking actions which it imposes at the frontier, and with the telephones issue, among others. The Chief Minister asked the UK Government to do something more than simply "monitor" the situation and said that formal protests were not enough.

On the issue of the airport Mr Caruana stated that Government was happy to facilitate a commercial development of the airport with Spain but that such arrangements would have to respect the exclusive sovereignty by Britain. The Chief Minister also gave an overview of the current state of the economy describing it as "good" and that this was as a result of the acumen shown by the local business community. He stated that by the end of the year visits through the land frontier will have risen to around 7 million compared to 5.9 million last year, and coaches visiting Gibraltar had increased by over 1500,totalling 14,000 coach visits, while cruise calls had also increased to around 200 for this year, compared to 99 in 1997, 135 in 1998 and 173 in 1999.

The finance centre continues to grow and prosper, the port remains buoyant, the ship registry is doing well, bunkering and the yacht industry is having sustainable growth, added Mr Caruana.

For his part Bruno Callaghan, President of the Chamber of Commerce, emphasised the absolute need to advertise Gibraltar and its products and services much more, to be able to attract visitors and business growth to Gibraltar.

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