Quotes: US MENA   Enter Symbol: NewsLetter: Search: advanced

Malta keen to bolster GCC ties  Join our daily free Newsletter

MENAFN - Arab News - 13/04/2010

No. of Ratings : 1
Add to Mixx!


 


Bahrain
(MENAFN - Arab News) Malta, being a member of the European Union, is keen to further bolster ties with GCC (Gulf Cooperation Council) nations, including Saudi Arabia, said Prime Minister of Malta Lawrence Gonzi.

Gonzi, who was in Manama on Monday on the second leg of his visit to a number of GCC countries, unveiled a roadmap of future Maltese-GCC cooperation, which he believes would bring both the GCC and the EU closer.

The prime minister is to visit all GCC nations, except Saudi Arabia, which he is to visit on separately considering its size and diverse economic base.

"We need a separate visit to the Kingdom of Saudi Arabia as part of our efforts to seek opportunities in various fields of common interest," said Gonzi.

"While we cannot ignore the current challenges facing the global economy, nor become complacent, we must also not lose sight of our own strengths. If confidence in our strengths falters, our willingness and ability to exploit these strengths will be lessened," he told the audience of a one-day financial seminar.

"As the financial crisis started to unfold and propagate, the voices of those who believed that financial integration was to blame got louder and the confidence of those advocating protectionist measures got stronger. However, they were wrong. It is not integration that was to blame for financial instability and its impact on the real economy but policy and supervisory failures," he added.

Malta's financial services sector, he said, has been resilient enough not only to withstand the impact but also to continue moving steadily along the growth path. Last year, the sector grew by 22 percent over a year earlier.

"This robust performance at a time of such adversity confirms our strong fundamentals as well as our potential to expand further. This high degree of resilience was also confirmed by the latest Moody's report," he said.

During his visit to Manama, Gonzi held talks with his Bahraini counterpart, Prince Khalifa bin Salman Al-Khalifa, and discussed issues of trade, tourism, investment and bilateral cooperation.

Malta's Minister of Finance, the Economy and Investment Tonio Fenech and his Bahraini counter-part Sheikh Ahmed bin Mohammed Al-Khalifa signed an avoidance of double-taxation treaty.


By Mahmood Rafique

 






  MENA News Headlines


 






Google

 
 

Middle East North Africa - Financial Network

MENAFN News Market Data Countries Tools Section  
 

Middle East North Africa - Financial Network
Arabic MENAFN

Main News
News By Industry
News By Country
Marketwatch News
UPI News
Comtex News

IPO News
Islamic Finance News
Private Equity News

How-To Guides
Technology Section

Travel Section

Search News

Market Indices
Quotes & Charts

Global Indices
Arab Indices

US Markets Details

Commodoties

Oil & Energy

Currencies Cross Rates
Currencies Updates
Currency Converter

USA Stocks
Arab Stocks
 

Algeria 
Bahrain 
Egypt 
Iraq
Jordan 
Kuwait 
Lebanon
Morocco 
Oman 
Palestine
Qatar 
Saudi Arabia 
Syria
Tunisia 
UAE 
Yemen

Weather
Investment Game
Economic Calendar
Financial Glossary

My MENAFN
Portfolio Tracker

Voting

Financial Calculators

RSS Feeds [XML]

Corporate Monitor

Events

Real Estate
Submit Your Property

Arab Research
Buy a Research

Press Releases
Submit your PR

Join Newsletters


 
© 2000 menafn.com All Rights Reserved.  Terms of Service | Privacy Policy | Contact Us | Advertise | About MENAFN | Career Opportunities | Feedback | Help