The Minister for the Economy, Investment and Small Business, Dr Chris Cardona, attended the EU Single Market - Policy Debate at the Competitiveness Council Meeting held last week in Brussels, where he expressed Malta's position on ways of improving the functioning of the internal market, which continues to be of priority since it is fundamental for boosting competitiveness.
Minister Cardona said that the EU in general, as well as Malta, will benefit significantly from measures reducing unnecessary restrictions to the provision of cross border services in the Single Market that would in turn also enhance the free movement of technology transfer, capital and labour.
Dr Cardona stressed that all structural reforms aimed at improving the growth potential of the EU will be important for SMEs to continue growing while enhancing the EU's competitiveness with the rest of the world.
The minister held that the Principle of Mutual Recognition should be strengthened wherever possible in order to maintain high standards for products and their related services. Nevertheless, Minister Cardona emphasized that there should be a constant drive not to create burdensome processes and that the main challenge in this is not only ensuring further harmonisation, but also ensuring effective enforcement of the rules already in place.
On the digital single market, Dr Cardona held that Malta agrees that Europe needs to take concrete steps in order to ensure that this boosts European economies and that the strategy from the Commission can thrust Europe into an era which fosters innovation and technological development in the Union.
Minister Cardona stressed that although structural reforms may be required to improve the functioning of the internal market, correct implementation of legislation and effective enforcement of existing internal market rules continue to be the best way of achieving growth and competitiveness in these markets.
Dr Cardona said that any new initiatives taken in this regard should take into account both local as well as EU wide specificities and focus on how to sustain the smallest enterprises first as the backbone upon which the EU's economy is based.
At the Competitiveness Council Meeting Minister Cardona also held talks with the Commissioner for Internal Market, Industry, Entrepreneurship and SMEs, Elizbieta Bienkowska, on a variety of subjects including the Gaming industry and the COE Convention on the Manipulation of Sports Competitions, the future of the Industrial Competitiveness Strategy and the Services Directive.