Malta hopes to further its relationship with Germany and Libya
Economy Minister Chris Cardona said yesterday that Malta hopes to further its relationship with Germany and Libya.
Minister Cardona was delivering his speech at the GermanyMalta-Libya Business encounter held at the Chamber of Commerce, Valletta.
The Malta Chamber of Commerce, in co-operation with the Libyan-Maltese Chamber of Commerce welcomed a delegation from the German-African Business Association. The association is composed of companies which are interested in resuming their business relations in Libya, and are finding Malta as the right location to network with both Maltese and Libyan companies in the hope that when the country’s situation goes back to normal, they will work together for mutual benefit.
“There is no single recipe for economic success, it is a collective effort where government forms a strong platform enabling business persons to deliver and maximise potential,” Minister Cardona said.
“The Chamber of Commerce, which represents our private sector has an important role to play in our nation’s wealth. Malta boasts a focused and diversified economy, which is in no small part due to innovative and dynamic private sector. These players, and government, will continue to listen and support Malta as a global hub for business and investment.
“Our economy is on a high rise, and testimonies from independent credit agencies, like the International Monetary Fund and Moodies, all project a strong outlook for the Maltese economy. Latest figures show economic growth is the third highest in the Eurozone. It is our responsibility as a government to maintain this steam and attitude”.
Minister Cardona quoted figures from the EU Commission’s Business and Consumer survey. “Consumers are upbeat that the financial situation will improve and that the economy will move from strength to strength. In these moments of growth, this government will do its utmost not to let these people down. While international turmoil is beyond control, we navigate through muddy waters, establishing helpful policy initiatives, enacting legislation, and embarking on projects which are sustainable and reasonable. We are an accessible government, ready to listen and adapt.
“We learn from our German and Libyan neighbours. To give you an idea of current trade relationship between Germany and Malta, we exported nearly €330 million worth of goods last year. These exports mostly consist of toys, games, spacecraft parts, electronic machinery, glass, rubber, pharmaceuticals and plastic. While Germany is one of Malta’s main suppliers for food and beverages, tobacco, footwear etc”.
“Libya is one of our closest neighbours, and historical trade partners. During periods when Libyan relations with the EU were troublesome, Malta acted as a bridge keeping communications open, bringing parties together. We acted as a safe haven from Libyan turmoil in the last few years. A number of Libyan friends established themselves in Malta, escaping the turmoil.
“Malta actively seeks investment, enticing companies to come, helping them to expand and stay here. We offer political stability, with agreement across the political divide on things that really matter.”