Investment opportunities from the East

I read with interest the editorial Harnessing Trade Winds From The East (February 18). Malta at long last is looking at reality and, in my opinion, facing the changed world economic order head on.

There is no doubt that both China and India are economic heavyweights as reflected by the stream of foreign dignitaries arriving in the capitals of both these countries.

China is expected to overtake Japan and become the second biggest economy this year and India will follow China to become a top economy soon after. China is predicted to have an economic growth of 8.8 per cent while that of India will be 7.5 per cent. Both countries are investing heavily, not only in Europe, but also in Africa where they seem to be in competition with each other and Malta should not miss out on the investment.

Indian pharmaceutical, agriculture, textile, communication and many such firms should be encouraged to set up business in Malta.

Setting up a High Commission in New Delhi with consulates in four Indian cities is a step in the right direction and more should be done to promote trade and interaction between both these Commonwealth nations for the benefit of the common man. However, India has still to respond to this gesture of friendship made by Malta.