Letters to the Editor

Brexit offers us explosive opportunities

  • Opportunity knocks: Britain cutting ties with the European Union could create business opportunities here in Bermuda

Dear Sir,

As I write this letter, the British Prime Minister, Theresa May, is in the process of reshuffling her Cabinet to reflect the influence, importance and strength of some key Cabinet ministries/ministers today.

Ministries such as Brexit, which was formed by the Prime Minister in June 2016 but will probably be merged into the Business ministry once Britain’s exit from the European Union is finally realised, together with Treasury, Home, Foreign, Business, Healthcare, Defence and Education are arguably the biggest and most important ministries in the Cabinet. But not necessarily in that order.

Placed on a list of the top five in terms of national interest and importance, Brexit, Treasury, Home, Foreign and Healthcare — commonly referred to as the big beast of politics — then Defence, Business and Education. Again, not necessarily in that order of latter ministries.

But how does it all relate to Bermuda? Brexit and the waves of new business markets and investment opportunities that it can bring into Bermuda?

As Brexit goes into its next phase of negotiations, business opportunities will explode as primary and fundamental changes will be brought about by changes in trade, tariffs and immigration. In business migration, new business investments will flow in search of stable, sophisticated, well-regulated business environments to place their long-term investments, and Bermuda has a gigantic advantage to change its business focus to cultivate new business enterprises and new markets. Rather than laying out the road map for the Government of Bermuda on the specifics of what is on the horizon, I will just simply state that opportunities for Bermuda during this Brexit phase of negotiations are positively explosive.

Finally, do not dismiss, trivialise, squander and/or hesitate regarding the opportunities for Bermuda that will flow from this rare political gift called Brexit.

VALIRIE MARCIA AKINSTALL

London, England