During the meeting, which was held at the MCESD offices in Floriana, social partners discussed the report on competitiveness drawn up by economist Gordon Cordina, who was heading one of the MCESD sub-committees.

Speaking to The Malta Independent, sources said that the social partners reached two major decisions during yesterday’s meeting. The first was that the term of the social pact that they will decide upon is of three years.

Another decision taken was that there should be a mission statement on why the social partners were signing this social pact and what it entailed for the government, the employers and the trade unions representing the workers.

The MCESD also discussed a possible mission statement and a basis for it was also agreed. The social partners agreed that the social pact should aim at improving the country’s economy, the creation of employment and the promotion of social justice. At the meeting, which was attended by parliamentary secretary Tonio Fenech, the social partners agreed on a way forward, at least in the discussion leading to the establishment of a social pact. The social partners discussed and agreed on a time-frame with stipulated targets and what has to be accomplished by specific dates. The social partners agreed on the dates of a series of meetings which will eventually lead to the agreement on a social pact for Malta, the first one the country would have ever had on a national level.

The first of this series of meetings will be held on Monday. It is calculated that a decision will be taken by the end of this year.

The Union Haddiema Maghqudin was the first social partner to draw up a report on establishing a social pact for Malta. This, the union had said, was the way forward for the country, especially to increase its competitiveness.

The Malta Employers Association also issued a report on how important a social pact was for the country.

The Malta Labour Party is this week expected to publish a report it commissioned on a comprehensive plan to regenerate the countryís economy.

It is understood that this report also mentions the importance of the establishment of a social pact signed by the government, the unions and the employers.