MPs highlight business opportunities in the Gulf

A visit by a Parliamentary delegation to the Gulf states has "opened a window of opportunity" for Malta in many respects, Foreign Affairs Committee chairman Jason Azzopardi told the press yesterday.

Flanked by fellow MPs who last week visited Saudi Arabia, the United Arab Emirates and Kuwait, Dr Azzopardi said the committee would shortly convene a meeting for The Federation of Industry, the Chamber of Commerce and other interested parties to inform them about the opportunities there.

This was a first visit by a Maltese Parliamentary delegation to the region.

The delegation met senior officials and discussed religious, cultural as well as political and business issues.

The MPs were told that in Saudi Arabia there are plans to build three cities, each the size of Switzerland, over the next few years and workmen were required in all sectors. Some $700 billion would be invested in these projects by 2010.

Labour MP Leo Brincat said it was evident that the main underlying issues for turmoil in the region were the conflict between Israel and the Palestinians and concern at Iran's flirtation with nuclear issues.

Nationalist MP Mario de Marco said the delegation spoke with a unanimous voice "and tried to get something home". The visit reaffirmed that these countries had a lot to offer and one could see the emergence of democracy developing in the region.

However, he added, one could not expect to see democracy as we know it develop overnight.

José Herrera, MLP, said Saudi Arabia could offer potential for local contractors. Those in the financial services sector would also do well to look at the Gulf region.

Another member of the delegation, Labour MP Evarist Bartolo, said one could work to attract tourists apart from students to learn English.

"There is a lot of prejudice about the region but the fact that 85 per cent of business delegations who went there over the past few months hailed from the EU sheds some light about the potential in the region," Mr Bartolo noted.