Guernsey is well placed to ensure any impact the Brexit might have on its trading relationships is minimised, and will put in place any required alternative trading agreement, according to island officials.
Guernsey is not a member of the EU and not part of the UK, however under its relationship with the EU, Guernsey is part of the customs territory, which allows for the free movement of goods.
Deputy Gavin St Pier, Guernsey’s chief minister, said: “Following the UK decision to leave the EU in this referendum nothing will change overnight in the relationships Guernsey has with the EU, or the UK for that matter.”
He added: “We will be monitoring the economic impact of this significant constitutional change for the UK and we will be engaging with business and with the Committee for Economic Development to understand this knock on effect to our economy.”
Dominic Wheatley, chief executive of Guernsey Finance, commented: “We note the decision of the people of the UK to leave the EU. However, although the decision is clear, we have yet to see how it will be implemented and the new world that will be formed in this process.”
“We will be monitoring developments closely to assess the impact of this on Guernsey and the financial markets in which we operate.”
