Strengthening institutional links leading to trade growth between Malta and India
Welcoming guests to the MaltaIndia Business Forum, the President of the Malta Chamber of Commerce, Enterprise and Industry Frank V. Farrugia said that cooperation between Malta and India was translating into a better exploitation of Malta's geographical position, facilitating the transshipment of goods from India to Southern Europe and North Africa.
“This is reflected in bilateral trade between Malta and India, which has been rising in the past years, mostly through trade activity in pharmaceuticals, organic chemicals, electrical machinery and textiles,” Farrugia said.
He remarked that the two countries were experiencing a deepening business relationship that was adding reciprocal value to trade operations.
“This level of trade can only grow as a result of the close collaboration between the two countries and the strengthening of our institutional links,” Farrugia concluded.
The Business Forum was attended by 30 Maltese business and institutional organisations that had meetings with 15 Indian business representatives in a fruitful networking session at the Malta Chamber.
The event was also the backdrop to the signing of a Memorandum of Understanding between the Malta Chamber and its Indian equivalent, the Associated Chambers of Commerce and Industry of India.
Farrugia signed on behalf of the Malta Chamber while Pavan Abraham, chair ASSOCHAM North America Chapter countersigned the MoU, which sets out grounds for further collaboration between the two organisations.
The forum was also addressed by Marie-Louise Coleiro Preca, President of Malta; Carmelo Abela, Minister for Foreign Affairs and Trade Promotion; Shri M. Venkaiah Naidu, vice-president of the Republic of India and Shri Shiv Pratap Shukla, Minister of State of Finance.