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While addressing the Business Promotion seminar on Monday at The Grand Palace Hotel in Riga, the President of Malta H.E. Dr. Edward Fenech Adami stated that both countries, Latvia and Malta are new members of the European Union and this has escalated the level of political cooperation between the two countries. Even though this is indeed desirable and much sought after, such political cooperation needs to be complemented by stronger economic exchanges, Dr Fenech Adami said.
The current level of trade between the two countries is at just over 300,000 euros and the business sector in both countries should seek to increase that, added Dr Fenech Adami.
Dr. Edward Fenech Adami and Mrs. Fenech Adami left Malta on Sunday afternoon on a two day State Visit to the Republic of Latvia. This is the first such visit of a Head of State of Malta to visit Latvia. The President is accompanied by the Minister of Foreign Affairs, the Hon. Michael Frendo.
Dr. Fenech Adami said that there is no doubt that there are several similarities between the economy of Latvia and the economy of Malta. Both countries have very open economies making it important for both economies to attract foreign direct investment and to seek to maximise potential for the exports of goods and services. However, this also means that the economies are very vulnerable to international events.
Dr Fenech Adami emphasized the need for both countries’ economies to seek to find niches in the international markets which can be exploited in order to thrive. He also mentioned the need to maintain the flexibility to be able to withstand adverse international conditions and to transform our geographical location into a unique opportunity.
Dr Fenech Adami also outlined ways in which the two countries can expand economic cooperation. Indeed, both countries are at the periphery of Europe, however, next to large markets. Therefore both serve as gateways to neighbouring countries – Malta to North Africa and Southern Europe and Latvia to the north-eastern part of Europe. In this regard the maritime sector in both economies plays a critical role. The presence of Maltese investment in the port of Riga is an example of the opportunities that exist, the Maltese President said. Within the Mediterranean a great deal of emphasis is being placed by the European Union on exploring the concept of the “motorways of the seas” as an alternative to land transport, which requires heavier investment in the infrastructure to support it. It is worth identifying how this concept can be extended across the whole of the EU and therefore also between Malta, the southernmost tip of the EU, and Latvia, one of the northern EU countries.
Dr Fenech Adami concluded the speech by mentioning that this summer there will be the start of an air service between Malta and Latvia, through a series of charter flights in the summer months operated by Air Malta on behalf of the Latvian travel organisation Kolumbs. This will help in bringing the peoples of the two countries closer to each other and such initiatives help to open the doors for further economic exchanges between the two countries. Lastly, the Maltese President augured that the discussions in this State Visit will serve to enhance the two countries’ economic ties further, thus enhancing the creation of other business opportunities.
 Dr Fenech Adami also held a speech on the occasion of a state dinner given in his honour by H.E. Dr Vaira Vike-Freiberga, President of Latvia. In his speech, the Maltese President mentioned the diverse and rich cultural heritage and a strong sense of national identity, as well as of the role Latvia and Malta play on the European and international scenes emphasizing how the strategic location of both countries has been a major influence on their diverse historical and cultural experiences.
Although enriched by European culture, both countries have an indigenous quality which is striking when one considers their land area. They have similar historical experiences and ties, Malta having suffered lengthy periods of rule by foreign powers, Latvia with its long history of invasions, occupations and a forced annexation – both never surrendering their determination to make a reality from the dream of a sovereign and independent State, the President said.
With the latest expansion, the European Union has extended its borders and obtained new neighbours. Latvia and Malta are both border States of the European Union, situated geographically at the far ends of the Union: Malta strengthens the southern dimension of the Union, while Latvia crystallises the northern dimension. Malta perceives itself and is perceived to be, a bridge between Europe and Northern Africa, as Latvia has also always been seen as a bridge, a gateway from where the East meets the West.
Malta and Latvia are reliable partners in the building of a united Europe.
The Maltese President’s speech was complemented by the words expressed Dr Vaira Vike-Freiberga who after warmly welcoming the Maltese Head of State and Mrs Fenech Adami, she recalled memories of her state visit to Malta in February of 2004 during which time Malta was marking the 40-year anniversary of the restoration of Malta’s independence. The Maltese President’s state visit to Latvia this year coincides with the 15th anniversary of the renewal of Latvia’s independence.
The Latvian President said that today we can look back at the two years that have passed since we became full-fledged member states of the European Union. Over this short period, we have already proved ourselves as loyal and strong partners who are contributing to creating a success story of Europe, Dr Vaira Vike-Freiberga said. Latvia in the Baltic region and Malta in the Mediterranean region represent examples to be followed by a number of our European neighbours that have also embarked on the path of reform. Malta is contributing significantly to the welfare, security and stability of the Mediterranean region, the Barcelona Process and development of relations with the countries of North Africa.
Dr Vaira Vike-Freiberga added that Latvia is actively implementing the EU’s European Neighbourhood Policy in the East and that they are sharing their experience of democratization, economic development and European integration with such countries as Moldova and Georgia. Also, Latvia is devoting significant efforts to the development of a civil society in Belarus and are closely following the processes of democracy and freedom in Ukraine.
Dr Vaira Vike-Freiberga stated that although Malta and Latvia are more than 2400 km apart, since returning to Europe this distance has, in a sense, disappeared. “In Brussels, our colleagues are working together every day to consolidate freedom, security, peace and prosperity in Europe, and on forging a new and better future for the continent. The continuation of the European success story is important for our nations – we have confirmed that by ratifying the Constitutional Treaty for Europe. While this document does face an uncertain future, Latvia is using the period of reflection to listen to people’s opinions regarding topical issues on the European Union agenda, including the future of Europe. Regional discussions, as well as consultations with social partners and non-governmental organizations have provided a significant contribution to the preparation of Latvia’s policies in the European Union”.
Dr Vaira Vike-Freiberga mentioned also that as member states of the United Nations, Malta and Latvia are actively engaged in the organization’s processes. The future-oriented UN reforms we agreed upon during the 60th anniversary UN General Assembly – the World Summit – are gradually coming to fruition. I hope that the UN Council of Human Rights, which began operating on Monday 19 June 2006 will make a significant contribution to the safeguarding of human rights in the world, and that we will see further progress in the UN’s reform processes.
The Latvian President concluded the speech by saying that he truly believe that the friendly and constructive relations between Latvia and Malta have the potential to grow even closer in the political, as well as economic and cultural fields. In fact, a number of co-operation projects that already provide a good incentive for further co-operation. Since 2003, for example, young Latvian diplomats have had the opportunity to study at the Mediterranean Academy in Malta. Latvia and Malta can share more of their experience and knowledge with each other, and thus strengthen both of our countries’ ability to face the challenges of a modern, globalized world.
The President and Mrs. Fenech Adami will return to Malta on Wednesday, 21st June 2006.
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