President Eddie Fenech Adami spoke about business opportunities when he addressed the Nicosia Chamber of Commerce during a Cypriot-Maltese business seminar yesterday.

Globalisation, he said, had brought new perspectives, with many opportunities and challenges. “It is in our common interest to strengthen cooperation between all Euro-Mediterranean countries in a way that brings long-term prosperity and welfare to all the countries that border the Mediterranean Sea.”

EU membership has provided the necessary breeding ground for bilateral trade and investment flows between the two countries to grow and develop. However, he said, three years after accession to the EU, trade and economic cooperation between Malta and Cyprus can be further developed.

“In this regard, the visit to Cyprus by the Maltese business delegation is a step in the right direction. The present-ation that follows by an official from the Ministry of Foreign Affairs, which is the ministry responsible for external trade in Malta, will give you some basic information about the Maltese economy and recent developments in this regard.

“This, I am sure, will give you an opportunity to assess Malta’s business potential and as a likely partner in joint projects. Similarly, the members of the Maltese delegation are here assessing the business environment with the aim of developing economic synergies with Cyprus and to seek increased cooperation in diverse fields for the mutual benefit of our countries.”

Dr Fenech Adami said that another area in which Maltese and Cypriot companies were successfully cooperating was in the redevelopment and operation of the port and marina of Larnaca. Viset Malta plc, the Grand Harbour cruise liner terminal operator, has been invited to form part of one of the bidding consortia, DJK Consortium of Larnaca, to help develop and operate the new cruise terminal and other support facilities in Larnaca.

He said he was sure that increased cooperation in other fields, such as trans-shipment activities, financial services, health, tourism, education and information technology, and in the manufacturing sectors such as those of the pharmaceutical and chemical industries, could also be explored.