ISRAELI companies will give Gibraltar new opportunities despite Brexit, the Gibraltar-Israel Chamber of Commerce has claimed.
A number of Israeli companies have already moved to the Rock, with others looking to follow in the next few years.
These have been made possible by the Gibrael group, which has business links with Israel and is based on the British territory.
“Since 2015 when Gibrael started, we have witnessed a huge increase in the number of Israeli companies that currently do business on the Rock,” said Ayelet Mamo Shay of Gibrael.
“These include Eco-Wave-Power, cosmetic retailers Kedma, online gaming giant Playtech and many Cryptocurrency related companies like eToro.”
Shay believes that Brexit will not halt this arrival, with the common market agreed between Gibraltar and the UK making the connection with Israel a real possibility in the future.
“I think the agreement with the UK is an important one, because Gibraltar itself is rarely the ultimate target market for Israeli companies, but rather a stepping stone,” Shay said.
Looking to the future, the Gibrael Chamber believes Israel can help out in plans for a Smart City, presented by Fabian Picardo at the last election.
“There are many Israeli smart city solutions that Gibraltar can benefit from, such as smart parking apps, tourism management solutions, smart monitoring of infrastructure and emergency control technologies,” she added.
“Another area which Israel excels in is regulatory technologies that can help both financial services and insurance companies and the thriving real estate market that Gibraltar offers.”
Gibrael will be working throughout the year to introduce Gibraltarian businesses to Israel and vice versa through cultural events.