The Minister for the Economy, Investment and Small Enterprise Chris Cardona accompanied the President of the Republic Marie-Louise Coleiro Preca on a state visit to Algeria, leading a business delegation on an invitation from the Algerian President Bouteflika.

Existing economic relations between the two countries are currently, somewhat minimal, limited only to trade in mineral fuels. As Algeria is seeking to diversify the economy, Malta is supporting its Mediterranean neighbour's effort and willing to share its experience.

Minister Cardona emphasised the importance of improving relations with Algeria, in particular at the level of trade with our close neighbours, especially considering how Malta and Algeria have a shared history and a Mediterranean outlook with a wide-ranging potential for opportunities for cooperation.

Recent visits by Prime Minister Joseph Muscat, and the current visit by President Coleiro Preca demonstrate the commitment to take the nations' relationship to a higher level.

At present, Malta boasts an upbeat economic portfolio with positive prospects. Malta is recording some of the best figures in Europe: for economic growth, deficit reduction and job creation. Current expansions in the energy and health sector, as well as utilising its use of the English language in broadening education services, are major themes in expanding the country's portfolio. This solidifying of our economy was echoed by The International Monetary Fund when it gave its seal of approval when it recognised that Malta's economy was growing strongly, helped by policy initiatives, with balanced risks.

On an international level, Malta has also shown that it can take the lead in Europe, with innovative measures such as free childcare and ground-breaking legislation on Family Businesses.

"We believe in building a sustainable economy. Malta has a reputation for robust, yet flexible, regulation, and we intend to keep it that way," stated Minister Cardona.

The minister also spoke about the recent signing of the Air Services Agreement and the

establishment of Malta's Consulate in Algeria which bode well for further relations, not only in business but in particular, closer co-operation on security and migration.