Malta hopes to fur­ther its re­la­tion­ship with Ger­many and Libya

Malta Independent - - NEWS - Kevin Schem­bri Or­land Photo: Jonathan Borg

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.”

Chris Cardona

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