OPR- Monday, 10th September, 2007

It is indeed my pleasure to address this very important Maltese-Algerian business forum. I trust that today will mark the beginning of a deeper and more fruitful economic and commercial relationship between our two countries. With its central location in the Mediterranean, Malta has always been considered as a bridge between Europe and North Africa. Our position at the centre of the Mediterranean complements that of Algeria at the western side of this Sea that historically has always been a stage for economic activity.

Malta’s joining of the European Union and our status as a Member State party to the Barcelona Process have enhanced Malta’s Mediterranean vocation to collaborate with its Mediterranean partners. I would therefore like to use this opportunity to reiterate that Malta remains committed to continuing its support for the Euromed Process and I reaffirm Malta’s good will to work with Algeria and other Mediterranean partner countries. It is clear that good relations between us not only benefit our two Peoples but also impacts on the entire Mediterranean region.

The timing of this business forum is most propitious since it comes at a time when Algeria is consolidating its economic reform programme in partnership with the private sector. The implementation of the EU/Algeria Association Agreement and the on-going negotiations for Algeria’s membership of the World Trade Organisation testify to Algeria’s increasing integration into the world economy.

Malta views Algeria as a country with abundant resources and great economic potential. The presence here today of such a large number of Maltese entrepreneurs testifies the good will for increased commercial interaction. It is time to build a comprehensive and diversified business relationship with the growing recognition of our complementary strengths to the mutual benefit of both countries. The future of Maltese-Algerian economic cooperation also lies in ensuring closer linkages between our two Peoples and in the development of new synergies, with Malta being the gateway to Europe and Algeria that to Africa.

Trade relations between Malta and Algeria are presently covered by the terms and provisions of the preferential Algeria-EU Euromed Association Agreement and it is clear that this Agreement can further improve and reinforce our bilateral commercial interests. As regards tourism, it is to be noted that the number of Algerian nationals travelling to Malta has increased by nearly tenfold since 2001. Notwithstanding, there is room for further improvement. I am pleased to say that a number of Maltese companies have already been successfully involved with their Algerian counterparts in the leisure, hospitality and cruise industry.

We view this forum as an opportunity to establish economic cooperation between our two countries on a firm footing. I am therefore hopeful that the Maltese and Algerian entrepreneurs here present will work to discover profitable opportunities of cooperation in various areas. In this respect, the early conclusion of negotiations on the signing of a Double Taxation Avoidance Agreement will help to improve the business climate between our two countries.

The Maltese economy has been substantially restructured in the last two decades. We shifted away from a labour intensive manufacturing base to high value added sectors that tap the best of our dynamic and flexible workforce. Malta considers its human resources to be its major strength and has placed education, training and employment high on its reform agenda.

In the last couple of years Malta has also gone through a period of considerable fiscal consolidation and economic adjustments. After having achieved a high degree of sustainable economic convergence with the euro area and satisfied the Maastricht criteria, Malta is now making the final necessary preparations to adopt the euro on the first of January 2008.

Maltese businesses present today come from a wide cross section of sectors and economic activity and we look forward to cooperation in each to synergise our respective strengths. The potential of this relationship can only grow in the years to come. Suffice to mention a few indicative areas where we can foster cooperation including joint ventures between our two countries. These include tourism, the operation of cruise liners, hotel management, education, banking and other financial services, maritime activities and port development, aviation and aviation engineering, healthcare and pharmaceuticals, electronics and information technology, software industries, business consultancy, telecommunications, infrastructural and other construction works, desalination plants, e-business, and issues relating to customs modernisation and product standardisation.

In this regard, the visit to Algeria by the Maltese business delegation is a step in the right direction. The members of the Maltese delegation are here to obtain a first hand experience of the business environment and I sincerely hope they will explore opportunities in Algeria in these and other promising sectors. I also augur that today’s forum will have a follow up so that we can think of a long term profitable business relationship. Thank you and I wish you success in your business discussions.