Business News

'Malta ready for Brexit with contingency plan for every possible outcome'

4th December 2020

Parliamentary Secretary for European Funds Stefan Zrinzo Azzopardi emphasised the importance of effective communication of information available

As the window of opportunity for a Brexit deal approaches its end, the Maltese Government has said it was proactive by creating a contingency plan which took into consideration every outcome of Brexit negotiations .

Parliamentary Secretary for European Funds Stefan Zrinzo Azzopardi emphasised the importance for everyone to be informed on the changes Brexit will be bringing about.

These changes could mean the imposition of tariffs on trade between the UK and the EU, as per World Trade Organisation (WTO) rules, unless a deal is reached by the time the transition period ends.

Under the rules governing the transition period, which runs to 31st December, 11 months to the day from Brexit on 31st January, the UK is still following most EU rules.

Mr Zrinzo stated that, together with this contingency plan, an information campaign was launched to inform all stakeholders on the effect of these changes. This was done in coordination with all the concerned entities and governmental departments.

The training on new tariffs and systems which will be affecting all those enterprises which import or conduct commercial activities with the United Kingdom. For this purpose, training courses are being provided, whilst preparations are underway so that all employees and enterprises are informed of the changes.

All this will be accompanied with other efforts so that citizens, especially those Maltese who are residing in the UK and UK citizens who are residing in Malta, remain informed of the changes whilst ensuring to fill all the necessary forms according to the regulations put in place by Identity Malta and authorities in the United Kingdom.

For more information one should follow the official pages of the ‘Brexit - Be Prepared’ campaign and access the Maltese Government's Brexit website. Direct assistance is also being provided to citizens and businesses, both via the Brexit helpline 153 and via e-mail at brexit@gov.mt where individual questions are being answered specifically.

5th December 2020

The global credit rating agency now forecasts Malta’s economy to shrink by -7.7% in 2020, as opposed...

4th December 2020

The award recognises the resilience shown by banks in the face of the pandemic, on the way clients’ ...

3rd December 2020

Meanwhile, Euro area registers 4.3% increase

3rd December 2020

This year’s training was carried out in the context of the Covid-19 pandemic

'Malta ready for Brexit with contingency plan for every possible outcome'