Groupe Eurotunnel has announced that Channel Tunnel will not be affected by the UK’s decision to withdraw from European Union (EU).
The Channel Tunnel was established under the binational Treaty of Canterbury signed by the British and French governments in February 1986. The 50.5km tunnel runs between Kent in the UK and Pas-de-Calais in northern France and it will continue its operations despite the Brexit turmoil.
Go deeper with GlobalData
As the UK is not a part of the Schengen area, people and goods travelling through the Channel Tunnel will remain subject to current border control protection provided by the UK Border Force, French Police Aux Frontiers, and Douanes.
Eurotunnel said in a statement that a fall in Sterling value would reduce its debt in that currency, while increasing costs for maritime competitors and supporting British exports. This would compensate for any potential negative effects.
Groupe Eurotunnel’s chairman and CEO Jacques Gounon said: "The Channel Tunnel fixed link was established with an international treaty between two sovereign states.
"Our Anglo-French vocation is to offer our customers a constantly improving and more competitive transport service. I am confident that we will achieve our goals."
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalDataNearly 1.5 million trucks use the rail tunnel every year.
