Malta and India to increase political and trade co-operation

Malta and India have agreed to increase political and trade co-operation in talks by a political and trade mission led by Foreign Minister Michael Frendo in New Delhi, Mumbai (Bombay) and Bangalore later this year.

Dr Frendo and his Indian counterpart K. Natwar Singh also signed a Memorandum of Understanding, which provides for yearly political consultations between the two countries on areas of mutual interest.

The two ministers also agreed to activate the Malta-India Mixed Commission on Economic, Industrial and Scientific Co-operation which is expected to meet in Malta this year.

During the six-day visit coinciding with the 40th anniversary of the opening of diplomatic relations between the two countries, Dr Frendo had talks with Mr Singh, with Mr Nath, the Minister of Commerce and Industry, T.R. Baalu, Minister of Shipping, Road Transport and Highways, Shakil Ahamed, Minister of State for Communications and with representatives of various sectors of Indian Business and Industry. His delegation included representatives of the Chamber of Commerce and Enterprise and Malta Enterprise.

Dr Frendo was also a keynote speaker in the India Trade and Investment Forum 2005 'Growth through Global Partnerships' organised by the Commonwealth Business Council and the Confederation of Indian Industries.

He addressed the conference on the theme 'The EU-India Strategic Partnership - a viewpoint from Malta' and addressed a business conference in Mumbai, apart from visiting a number of Indian companies in Delhi and Bangalore.

In his speech at the Investment Forum 2005, Dr Frendo outlined areas of possible co-operation with Indian private companies in specific areas of focus and provided Malta's viewpoint on the EU-India Action Plan for a Strategic Partnership.

"I am convinced that Indian and Maltese firms can explore ways in which these advantages can exploit profitably, adding value to both manufacturing operations in India and also in Malta," Dr Frendo said.

Malta, he said, had the fifth largest shipping register in the world and possibly the most successful transhipment port in the Mediterranean.

Therefore, India's exporters would do well to consider Malta's advantage both in terms of trans-shipment of their products and as a central distribution centre for the EU and Maghreb markets.

The Minister of External Affairs of India and Minister Frendo agreed that the two countries had various areas where private sector companies can co-operate with regard to trade and foreign direct investment in both directions.

With Mr Nath, Dr Frendo discussed the possibility of Maltese and Indian companies doing business together in Malta and in the European and Mediterranean region.

Minister Frendo said that Malta offers unique advantages to Indian private sector companies, such as pharmaceutical and information and communication technology companies, wishing to establish a base in Malta for production or research and development, or to service the European Union and North African markets.

Bilateral trade between Malta and India has been rising in the past years, reaching $97 million last year, equivalent to about Lm31.24 million.

Products exported from Malta to India include electronic goods and machinery as well as professional instruments. India exports mostly petroleum goods and heavy machinery.

On a request from Malta's National Aviation Museum Foundation, Dr Frendo asked whether the Indian Government would consider donating one of the unused Indian Air Force Hawker Hunters to the National Aviation Museum of Malta to form part of the exhibits in the museum.