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Ministers boost ties with global markets

05 November 2018

The Chief Minister, Senator John Le Fondré, and the Minister for External Relations, Senator Ian Gorst, are embarking on a number of official international visits this month as part of the Government’s strategy for building and developing relationships with high-growth markets outside the EU.

The Minister for External Relations will visit New York this week to participate in the World Economic Forum’s Partnering Against Corruption Initiative (PACI), a body that brings together leading business voices to cooperate on anti-corruption and transparency.

Senator Gorst will also meet British trade officials at the Consulate-General in New York and representatives from several US banking groups to discuss how to maintain and enhance the strong business flows between the USA and Jersey, particularly in the funds sector.

Senator Gorst will then lead a delegation to the Middle East, during which he will make a two-day visit to the UAE and a one-day visit to Bahrain. The Middle East programme combines a range of commercial, governmental and strategic objectives.

The UAE visit will coincide with the launch of Jersey Finance’s new presence in the Dubai International Finance Centre, marking another milestone in the Island’s relationship with the UAE. In Bahrain the Minister will meet with the Ministry of Finance to progress negotiations on a Double Taxation Agreement between Jersey and Bahrain.

The Chief Minister will travel to Hong Kong, Shanghai and Beijing, and will support the work of Jersey Finance by attending both the STEP Asia event and the Hubbis Wealth Management Forum, delivering a keynote speech at the latter. Alongside these events, the Chief Minister will have a full programme designed to explore ways to build on established links in both the education and digital sectors.

The Minister for External Relations will also be visiting Kenya and Rwanda in December.  Senator Gorst commented: “Brexit provides the Island with significant incentive to develop Jersey’s presence on the global stage. The Ministry of External Relations is working hard to place Jersey in a strong position to enhance and deepen relationships with selected high-growth economies in North America, the Middle East, sub-Saharan Africa and Asia. Building commercial and political relationships is vital for achieving Jersey’s jobs and growth objectives.”

Senator Le Fondré added: “Developing strong government-to-government relationships is key to realising China’s market potential. The Island already enjoys strong links with China, including in education and financial services, and I am looking forward to building on strong foundations to increase Jersey’s visibility, access to decision-makers, and business flows with the world’s second largest economy.”

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