Brussels – An agreement has been reached to streamline cross-border trade and travel between Gibraltar and EU nations, promising mutual prosperity and attracting investors. In a Thursday interview with TASR news agency, European Commissioner for Trade and Economic Security Maroš Šefčovič commented on the signing that took place on June 11, involving representatives from the EU, Spain, the United Kingdom, and Gibraltar, where Šefčovič represented the European Commission.
This agreement comes after years of post-Brexit negotiations regarding the status of Gibraltar between the EU and the UK.
Šefčovič hailed the agreement as a “historic milestone,” predicting increased prosperity for both Gibraltar and the surrounding regions of Spain. He emphasized that removing the “last barrier on the European continent” will facilitate investment and enhance the standard of living for local residents.
“Currently, 15,000 people cross through control lines daily. All of this will be eliminated. The EU, along with Spain, Gibraltar, and Britain, have agreed on a gradual alignment of indirect taxes, and the prices of cigarettes and other goods will also converge over time,” he explained.
He highlighted the importance of Gibraltar’s commitment to adhering to stringent EU regulations against money laundering and halting speculative trading, which has been a topic of negotiation. This commitment is reflected in the European Commission’s decision to remove Gibraltar from its list of jurisdictions that inadequately address money laundering.
On Wednesday, European Commission President Ursula von der Leyen also congratulated Šefčovič on the successful negotiations regarding Gibraltar, noting that the agreement upholds the integrity of the Schengen Area and the EU’s single market while securing stability, legal certainty, and prosperity for the region.
The Slovak Commissioner remarked on the positive atmosphere during the agreement’s signing, as all parties recognized the resolution of the last remaining post-Brexit issue between Brussels and London.
“With this decision, all Brexit-related questions are settled; we’ve reached a consensus on all matters. Everyone is pleased with the successful outcome of these negotiations,” he stated.
He clarified that the next steps involve finalizing and implementing the agreement, which includes translating the compromises into a legal text that will require approval from Gibraltar, the UK, and the EU. “We aim for this agreement to take effect as soon as possible, hopefully next year,” Šefčovič remarked. (June 12)
“Currently, 15,000 people cross through control lines daily. All of this will be eliminated. The EU, along with Spain, Gibraltar, and Britain, have agreed on a gradual alignment of indirect taxes, and the prices of cigarettes and other goods will also converge over time.” Maroš Šefčovič.
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