Business View Caribbean | August 2022

89 BUSINESS VIEW CARIBBEAN VOLUME 9, ISSUE 8 GH CONSTRUCT ION CO. LTD . (GHC) Internationally Respected. Globally Connected, For over IRrty years, Chancery Chambers has been providing comprehensive legal services in Barbados and across the globe. Our relationships with firms worldwide ensure informed service. Special practice areas include: Banking and Finance,MergersandAquisitions,TrustsandEstate Planning, Charities, Insurance, and Environmental Law and Policy. Learn more about us at www.chancerychambers.com CHANCERYHOUSE High Street, Bridgetown, Barbados “The outcome of the referendum does not change the constitutional relationship between the UK and the Territories; nor does it in anyway reduce RXU FRPPLWPHQW WR WKHP ń 17 THE BIG DEBATE: BREXIT Baroness Anelay, Foreign and Commonwealth 2IğFH 0LQLVWHU IRU the British Overseas Territories We asked leading commentators from across the international finance industry: What opportunities or challenges will Brexit create for the financial services sectors of the City of London, Overseas Territories and the Crown Dependencies? I was delighted to be made Minister for the Overseas Territories following the EU referendum vote. e outcome of the referendum does not change the constitutional relationship between the UK and the Territories; nor does it in anyway reduce our commitment to them. As Minister, I look forward to engaging with these diverse and fascinating islands and working with them to develop their potential. I recognise that Brexit will have an impact on the Overseas Territories. We will fully involve them, the Devolved Administrations, and the Crown Dependencies, in accordance with their vario us constitutional relationships with the U K, in the process to exit the EU. is will ensure that all of their interests are ta ken properly into account. We will s eek the best possible arrangements for th em and for the UK in our future relati ons with the EU. At the same time we ar e going to make the most of the oppor tunities that our departure presents – gett ing out into the world and doing busin ess right across the globe. My ambition for theTerritories is for them shingbasedeconomies.Bermuda, the BritishVirgin Islands,Gibraltarand the Cayman Islandshave signi cant nancial centres,andallof theTerritoriesare attractivedestinations for tourists. e Territories should build on this progress and continue to explore opportunities to strengthen and diversify their economies, and the UK Governmen t will work with them to ensure this. Although small in size, the Territorie s are open and dynamic economies with exciting prospects for investment and trade. Brexit provides an important opportunity for the Territories to deepen and broaden their economic links with the rest of the world, including Europe. tobe secure, successfulandeconomically sustainable. eTerritorieshavehuge potential nancially.Manyhaveadvanced from theirpredominantlyagricultureand IFC_ER7_rev3. indb 17 14 /09/2016 15:50 Founded in 1977, Chancery Chambers is one of the most diversified and well-respected law firms in the Caribbean and beyond. Chancery House, High Street Bridgetown, BB11128 Barbados, West Indies +1 246 434 3400 chancerychambers.com