The similar challenges that Malta and Italy are facing, such as Brexit, the looming global trade wars, the financial sector and the banking sector, were on the agenda of a bi-lateral meeting between Maltese Finance Minister Edward Scicluna and his Italian counterpart Giovanni Tria.

Speaking at a press conference on Friday, Scicluna said that while Tria was in the country for a constituency meeting of the International Monetary Fund (IMF) and the World Bank, it was always important to use such opportunities for positive discussion - especially given that it was Italy who leads the constituency group that Malta is in. 

Scicluna added that the common concerns with regards to the immigration situation were also discussed.  He noted that projects with regards to strengthening the Euro group were also discussed, and said that these projects were imperative to strengthening the euro-zone so that in the case of heightened risks and shocks, the zone can be more resilient and have a better response.

Tria meanwhile echoed Scicluna's sentiments and said that the meeting was a good opportunity to discuss in general the role of the IMF and World Bank, their policies and what their future should look like.  He said that he believes Malta and Italy can collaborate over what position to take in this regard.

He noted that each country has its own specific problems, but added that there are more general problems which can have a general impact and cause uncertainty that could guide the economy. He explained that Brexit and concerns around the global trade scene could be the source of such problems , but expressed his satisfaction at the common interests that Italy and Malta have in dealing with such issues.