Excellency President of the Republic of Albania
Honourable Ministers
Excellencies
Distinguished guests
I wish you all a very good evening.
First of all, it is truly a great pleasure to be with you here in Albania. I would also like to express my appreciation to HE the President of the Republic of Albania, for the hospitality you are extending to me and to my delegation.
My presence here today bears witness to the very good relations that exist between Malta and the Republic of Albania, as well as to Malta’s willingness to further enhance the existent friendship between our two peoples.
It is with great satisfaction that I address this opportune Albanian Maltese Economic Forum, confirming Malta’s interest in fostering trade relations between our two countries.
Malta is pleased that the Government of the Republic of Albania has invited us to this State Visit, together with an accompanying business delegation. I am convinced that this delegation will provide an impetus to the relations between the two countries both at the political as well as the economic and commercial level.
The business delegation forming part of my delegation on this State Visit, have fully recognised the strong trade potential that exists between Albania and Malta.
In fact, represented here today, we have businesses from various sectors including construction; roads and infrastructure; restoration; agriculture; education and training; retail; consultancy services and tourism.
The business representatives from these sectors are very interested in exploring the trade potential that exists between our two countries, and hence, welcome all forms of collaboration with their counterparts in Albania. They are confident that both our countries will surely benefit from all forms of bilateral trade, joint ventures and partnerships.
It is our belief that Albania is ideally situated to take advantage of its geographical position, located at the centre of a natural crossroads of major corridors in Europe, in engaging with markets in both East and West.
Albania has built an attractive, business-friendly environment with tax benefits and incentives for investment, and I am certain, that the business community views this potential as beneficial for growth and profit.
In order to create more collaboration between businesses from our two countries, it is essential that businesses get to know about the capabilities, opportunities and capacities, available in our respective countries.
Hence, I encourage Albanian and Maltese entrepreneurs to exchange ideas, embark on new business ventures and explore possibilities of investment as well as to implement joint projects so that our combined efforts will lead to mutual gains.
The strength of our bilateral legal framework demonstrates the commitment between the two countries to expand their links and strengthen their engagement.
The scope of this visit is to explore new avenues for cooperation on viable projects, commercial and investment exchanges in the areas of tourism, construction, education and other economic sectors.
Meanwhile, networking between Maltese and Albanian businesses presents attractive market opportunities which are bound to spur bilateral trade for both sides.
Malta is satisfied at the trade surplus of €58.6 million and €107.8 million in 2013 and 2014 respectively. Despite this being solely a result of exports of mineral fuels, Malta hopes this bids well for future commercial exchanges between the two countries.
As Albania is currently implementing significant reforms as part of a transition phase leading to EU membership talks, we are pleased to note that, the changes which Albania is going through are not restricted to harmonization of legislation and establishment and/or improving the institutional composition. Indeed, Albania is also developing a liberal market economy and promoting tourism.
Against this background, Malta and Albania should and can identify niches for possible economic collaboration therefore creating enticing conditions for an increase and diversification of trade in goods and also services.
Here, I would also like to draw the attention to three important industries which have flourished in Malta in the past years, and which may be appealing for Albania in its efforts to bolster its economy. These are aviation and financial services.
Malta has established itself as a leading centre in financial services. This is reinforced by a rigid regulatory framework geared to ensure the highest standards of integrity and transparency. We consider this as a fundamental reason why Malta weathered the global financial crisis in 2008, and the ensuing Euro Crisis in a resilient manner.
In the aviation sector, Malta set up a centre of excellence for the maintenance and servicing of aircrafts. The presence of global names in the industry is the best guarantee that makes Malta a well equipped hub for servicing this industry, where attractive incentives are offered to foreign investors interested in expanding their operations on the island.
Another important economic sector which Malta is indulging into with new impetus and success is the energy sector in terms of renewable energy.
In fact, Malta, through its new partnership with the internationally renowned company, Shanghai Electric, and through the newly established company, International Renewable Energy Ltd, is venturing into new pastures and is already expanding its operations in the European continent and the Balkan States I am pleased to note that, as at end 2015, there were already, a number of registered companies in Malta with Albanian shareholding interests.
Unfortunately, tourism between Malta and Albania is minimal. Having said this, I am optimistic that, since both countries are able to offer a rich touristic product to incoming visitors, and are in close proximity to each other, there are prospects, for increased tourism flows.
Apart from the conventional sun and beach and cultural tourism, the teaching of English language is a growing sector that attracts foreigners to travel to Malta, and learn this indispensable global language.
Several courses are offered by over 40 recognized and reputable English teaching language schools and other academic or educational institutions.
Tuition is not restricted to young people alone, and whilst the largest age group is indeed made up of young adults, other age groups, between 26 and 49 years of age, are also well represented.
Medical tourism is another emerging niche in Malta which is catalyzed by important recent developments in the health sector on the island. Private investment by world renowned health care systems and health-related academic institutions, such as Partners Healthcare International of Boston, Bart’s Medical School, and Johnsons and Johnsons, are giving an impetus to the government’s efforts in establishing Malta as a leading hub for healthcare. This healthcare hub aims at providing advanced high quality treatment, for local and foreign patients in convalescence.
Another important aspect of our existing strong bilateral relations, which I would like to mention, is that, Malta has for a very long time, declared its support for Albania’s aspirations to become member of the European Union.
Malta acknowledges and welcomes the granting of candidate status to Albania as an important step forward in its relations with the European Union.
I am certain that this support, will not only continue, but Malta is and will be available, to further extend all its European integration experience to Albania. Hence, Malta is prepared to give the necessary support in the integration process, by offering technical assistance.
Malta is of the opinion that Albania should continue with the necessary economic reform measures to improve competitiveness, achieve fiscal consolidation, and reach European Union standards.
I would like to conclude my contribution, by addressing specifically, both Albanian and Maltese entrepreneurs present today. I would like to earnestly encourage you, to explore all possibilities for new business ventures and opportunities, in the as yet untapped markets, that can develop between our two countries.
I trust that this Business Forum will give you a clearer idea on how you can work together, and I augur that the Business to Business meetings will allow you to identify synergies for the mutual benefit of both sides.
Believing that your efforts should be sustained in a formalised process for long term results, I would like to propose the setting up of a Joint Business Council between our two countries, hence a Joint Albanian Maltese Business Council. Such a Council can in the main, facilitate not only a way forward for further exploration of markets, but also will be a means of keeping continuous contact to enhance our economic bilateral relations and your prospects as businesses.
Finally, I truly look forward to seeing your endeavours coming to fruition during this Business Forum, and indeed beyond, for the benefit of your businesses, our peoples, our nations and our region.
Thank you.