Trade promotion expected in Cyprus, Greece

Malta Chamber of Commerce President Reginald Fava is currently accompany President Guido de Marco on a state visit to Greece and Cyprus. The appointment follows a similar invitation made to the Chamber President, which saw Fava accompany President de Marco on a state visit to Hungary last April.

During the Hungary visit, Mr Fava had taken the opportunity to formally establish a Co-operation Agreement with the Hungarian Chamber of Commerce and Industry. The Agreement was signed by Mr Fava on behalf of the Malta Chamber of Commerce and Laszlo Parragh, President of the Hungarian Chamber of Commerce and Industry. The agreement is aimed to provide for closer collaboration between the two chambers and the promotion of business between their respective members.

The highlight of Mr Fava’s visit to Hungary, however, was characterised by a speech he gave to Hungarian investors and business people at the Headquarters of the International Trade Development of Hungary Co. On the occasion Fava had given a comprehensive overview of the Maltese economy quoting historical facts and latest economic statistics. He spoke about foreign direct investment and the latest endeavours of the Maltese Government in this regard particularly through the Business Promotion Act.

Fava encouraged Hungarian businessmen to seriously consider Malta as a possible location for their future business projects so that they too can benefit from the success story that Malta has contributed to a long list of investors. He also recommended the Hungarian business community to also consider the possibility of entering into partnerships or joint ventures with Maltese counterparts especially in projects involving the penetration of North African markets.

Mr Fava spoke at length about Malta’s competitiveness, foreign trade and about the tourism industry. He gave an insight into future economic and investment projects for Malta, particularly with special reference to up-coming infrastructural and other projects.

Over the past weeks, active preparations were made at the Chamber in connection with this forthcoming trip to ascertain that Mr Fava’s duties with the President will be a resounding success for the benefit of the Chamber and the country at large.