Lord Mayor of the City of London pays virtual visit to Chile

The Lord Mayor of London, global ambassador for the UK’s financial and professional services industry, paid a virtual visit Chile on 9 and 10 March. The aim of of the visit was strengthening trade links with the City of London. William Russell, the Lord Mayor, met government and business leaders, regulators, and trade bodies in Santiago. This virtual visit focussed around collaboration on green finance, open banking, fintech and cyber security, as well as positioning UK strengthens in financial services and innovation.

On the first day of the visit, the Lord Mayor attended a roundtable with the Ministry of Finance, regulators, representatives of Chilean financial sector, and InBest –organisers of Chile Day. At the meeting, headed by the Chilean Minister of Finance Mr. Rodrigo Cerda, discussions where held about Chile’s approach on financial development. Other topics were sustainability and innovation, as well as opportunities for engagement in 2021, including at Chile Day.

William Russell also led discussions on challenges and opportunities in open banking regulation that Chile is designing. On the occasion, UK experts from the Open Banking Implementation Entity, and the companies Raidiam and Open Banking Delivery held discussions with key Chilean policy makers. They presented the UK implementation of open banking, its challenges and the importance of design. This is precisely where UK expertise, as in other jurisdictions, can help create a dynamic and safe ecosystem.

Another focus of the Lord Mayor’s visit promoting the UK market for Chilean fintechs interested in scaling up. The Lord Mayor also referred to the latest outcomes of the Kalifa Report, oriented to guide the future of the UK fintech ecosystem. Mr. Russell also participated in an activity on green finance organised by the British Chilean Chamber of Commerce. The webinar ‘Mobilising UK-Chile Net Zero Green Financial Systems’ included participants from the Chamber’s member companies. Also present were members of the Chamber’s finance and sustainability committees and financial sector actors, who shared views on how to successfully take part in the race to net zero 2050.

On Wednesday 10 March, William Russell participated in an event for pension funds organised by Aberdeen Standard. It focused on sustainability and how relevant it is for financial firms to incorporate climate risk to their investment decisions. Later that day the Lord Mayor led a discussion on cybersecurity for insurance firms, an event oriented to LATAC firms and organised by City of London.

About trade and investment relations UK-Chile

UK and Chile partnership is strong and the UK-Chile Association Agreement has ensured that companies from both countries retain the preferential tariffs enjoyed under the previous EU-Chile agreement.
The City of London has an excellent relationship with Chile, which has developed strongly in recent years.
There are a wealth of bilateral trade and investment opportunities between the UK and Chile, with close to £2 billion of bilateral trade recorded last year.
The UK is now pursuing its own independent trade policy. We have established a UK-Chile trade dialogue to take forward strategic collaboration and adapt bilateral trading arrangements to the reality of our countries.
As from 2015, the Santiago Office of the Department for International Trade (DIT) has helped 29 Chilean companies to settle down in the UK, mainly in the tech and financial services sector. A high percentage of these have been scale-ups.

About the UK economy

The UK is a strong economy and a great place to do business, ranking eighth globally in the World Bank’s Ease of Doing Business Index (2020). This is thanks to its flexible labour markets, high levels of employment and competitive environment – with high standards and dependable rule of law.
The UK is recognised as a global leader on climate change action, including green finance and green growth promotion.
The UK has the strongest Fintech ecosystem worldwide economy and the lowest tax rate in the G20. The UK fintech sector contributes £6.6 billion annually to the UK economy, and employs over 60,000 people across 1,600 companies.
DIT in Latin America and the Caribbean has supported more than 250 companies in the region to invest more than £3 billion in the UK. These investments come from enterprises operating in a wide array of sectors such as technology, finance, food and drink, and chemicals.

Further information

For more information about the work of the British Embassy in Santiago, follow us on:

Correspondence between Lord Evans and Anneliese Dodds MP and Rachel Reeves MP

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A treaty between the UK and EU in respect of Gibraltar: joint ministerial statement

Press release

The UK Foreign Secretary and the Gibraltar Chief Minister gave a statement at the UK-Gibraltar Joint Ministerial Council which took place on 29 March 2021.

At the UK-Gibraltar Joint Ministerial Council held in Gibraltar on 29th March 2021, the Foreign Secretary, the Rt Hon Dominic Raab MP and the Chief Minister of Gibraltar, the Hon Fabian Picardo QC agreed our joint approach to the upcoming negotiations on a treaty between the EU and the UK in respect of Gibraltar.
They recalled the framework for this treaty was agreed with the Kingdom of Spain on 31st December 2020, welcoming the constructive and forward-looking approach taken by the Spanish Government in these negotiations, and reiterating their commitment to continue this next phase in the same spirit of shared partnership.
In visiting Gibraltar, the Foreign Secretary reiterated the UK’s longstanding commitment that it will never enter into arrangements under which the people of Gibraltar would pass under the sovereignty of another state against their freely and democratically expressed wishes. Nor will it enter into a process of sovereignty negotiations with which Gibraltar is not content.
The Foreign Secretary and the Chief Minister made the following statement about the treaty:
Our position reflects the unique situation of Gibraltar and the opportunity that this negotiation brings. At the core is a shared aim to secure future prosperity for Gibraltar and the surrounding region. This will be delivered through a treaty which brings confidence, legal certainty and stability to the lives and livelihoods of the people of Gibraltar and neighbouring communities, without prejudice to legal positions on sovereignty and jurisdiction. The treaty should ensure fluid and open movement of people and goods between Gibraltar and the EU.
We are committed to work constructively and quickly with the objective of concluding a treaty in the coming months. That said, we repeat our position that a treaty must be on the right terms. Gibraltar’s British identity, and the United Kingdom’s sovereignty, must be preserved. We believe that with commitment and flexibility, a treaty can meet these requirements. However, if this does not prove to be the case, or the deal on offer is not the right one for the UK and Gibraltar, we are fully prepared to accept the implications. The UK will stand fully behind Gibraltar, its people and its economy in any scenario.
The framework agreed with Spain gives a clear basis for the treaty. In the forthcoming negotiations the position taken by the UK and Gibraltar will follow the provisions agreed in that framework.
In particular, the framework provides a pragmatic model to achieve the fluid movement of people between Gibraltar and the Schengen area. Under this model, a joint operation with the European Border and Coastguard Agency (Frontex) may thus be established for an initial implementation period of four years. In the event that, after consultations on the results of the arrangements of the implementation period, either of the parts, namely Spain on the first part, and the UK and the Gibraltar authorities on the second part, are not satisfied with the results at the end of the implementation period, the agreement will be terminated at the end of that period. For both the UK and Gibraltar Governments, the operation of front line Schengen external border checks on the territory of Gibraltar by Spanish officials would not be acceptable.
The UK and Gibraltar envisage that the model in the framework will be underpinned by agreement on other areas, including law enforcement and criminal justice. There is a shared interest in ensuring the Government of Gibraltar is able to effectively tackle crime and terrorism, bring criminals to justice and protect citizens within its jurisdiction.
Spain and Gibraltar share a mutual interest in fluid movement of goods between the EU and Gibraltar. Any solution should reflect the unique character and limited scale of Gibraltar’s economy, with the aim of minimising barriers between Gibraltar and the EU without requiring a disproportionate regulatory, legal or administrative burden.
The treaty should clarify the terms for the provision of services between Gibraltar and the EU, including the surrounding region. Consistent with this, we are prepared to make level playing field commitments, proportionate to the scale of Gibraltar’s economy and the levels of market access in the treaty, to ensure that unfair distortions do not occur.
Consistent with the agreed framework, the treaty will also need to include provisions for: Transport; Environmental protection; Social Security Coordination; Citizens’ Rights (Frontier Workers); and Data Protection.
The treaty should contain arrangements to ensure it is governed in an effective and proportionate way, reflecting the nature of the treaty as well as the judicial autonomy of the parties. This will include mechanisms for cooperation through a simple Joint Committee structure, dispute settlement and interpretation of the treaty.

Published 29 March 2021

PM statement at coronavirus press conference: 29 March 2021

Good afternoon and welcome to this press conference on what has been a big day for many of us –

with the first chance to see friends and family outdoors, whether as six people or two households.

And I want to congratulate the members of Ilkeston cycling club in Derbyshire that set off at midnight,

the swimmers who broached the chilly waters of the Hillingdon Lido at the crack of dawn,

and more than anything I know how much it will have meant to millions of people to have joined someone else for a cup of tea in the garden.

And I must stress that it is only because of months of sacrifice and effort that we can take this small step to freedom today.

And we must proceed with caution.

It is great to see that yesterday we recorded the lowest number of new infections for six months

deaths and hospital admissions across the UK are continuing to fall.

But that wave is still rising across the Channel

and it is inevitable as we advance on this roadmap

that there will be more infections, and unavoidably more hospitalisations and sadly more deaths.

So what we need to do is continue flat out to build the immunity of our population

build our defences against that wave when it comes.

And now that we have vaccinated more than 30 million adults across the United Kingdom

it is more vital than ever to protect the most vulnerable.

the evidence seems pretty clear that vaccinating the elderly and vulnerable has helped to drive down rates of hospitalisation and death

and now we want to reinforce that protection with a second dose

so for many people April will be the “Second Dose Month”

and please take up your appointment when it’s your turn.

And at the same time as we push forwards with our programme to offer a vaccination to all adults by the end of July

we’re building up our own long-term UK manufacturing capabilities.

I’ve already told you that Novavax

– a potentially significant new weapon in our armoury against Covid –

is going to be made at Fujifilm in the North East.

And I can today announce that the Vaccine Task Force has reached an agreement with GlaxoSmithKline

to finish and bottle this precious fluid also in the North East

giving us between 50 and 60 million doses of UK made vaccine subject to the right approvals from the MHRA.

And then, of course, there is one other way we can all build our own individual defences against Covid

and enjoy ourselves at the same time –

and that is to take more exercise.

So I am personally thrilled that I will be able to play tennis for instance

And without being remotely preachy I do hope that we can take advantage of this moment

and the beautiful weather –

to play sport, to take exercise, to have fun and build our national resilience in that way too.

And remember that outdoors is generally much safer than indoors

and the way to continue on our cautious but irreversible roadmap to freedom is to follow the rules

and remember hands, face, space and fresh air.

Guidance if you are visiting the coast from 29 March

News story

When visiting the coastline please take care and follow the rules and social distancing guidelines according to the guidance for your area.

HM Coastguard Search and Rescue Helicopter

In England, some of the rules on what you can and cannot do changed on 29 March. However, many restrictions remain in place.

You can meet up outdoors with friends and family you do not live with, either:

in a group of up to 6 from any number of households (children of all ages count towards the limit of 6)
in a group of any size from up to two households (each household can include an existing support bubble, if eligible)

You can exercise outdoors in a group of 6 or a larger group of any size from up to 2 households (including their support bubbles, if eligible).

Whether you plan to meet or exercise at the coast, please take care and follow the rules.

You should stay 2 metres apart from anyone who is not in your household or support bubble where possible, or 1 metre with extra precautions in place (such as wearing face coverings) if you cannot stay 2 metres apart.

You should follow the guidance on how to stop the spread of coronavirus at all times, including if you have been vaccinated against COVID-19.

You should follow this guidance in full to limit the transmission of COVID-19. It is underpinned by law .

See specific guidance for Scotland , Wales and Northern Ireland .

We’re in difficult times, but if you’re in trouble at the coast, we’re always here for you. In an emergency at sea or at the coast dial 999 and ask for the Coastguard.

Published 29 March 2021