Prime Minister Joseph Muscat said that Malta will initiate the process for the entry into force of the EU-Japan Economic Partnership Agreement, as well as the Strategic Partnership signed between the EU and Japan in July 2018 in Tokyo.
Dr Muscat was speaking at the Japan-Malta Business Forum organised by Trade Malta in collaboration with the Japanese External Trade Organisation in Tokyo, which was attended by a large number of Japanese businesses.
“Malta welcomes the signing of the Strategic Partnership Agreement. Through this agreement, cooperation will not only include political dialogue and policy cooperation, but also cooperation on regional and global challenges, including the environment, climate change, disaster relief and security policy,” Dr Muscat said. “This enables the EU and Japan to jointly promote peace, stability and prosperity globally. Malta also warmly welcomes the recent signing of the EU-Japan Economic Partnership Agreement, which demonstrates the progress made in the enhancement of relations between the two parties. The agreement is now awaiting ratification and it is expected to enter into force in 2019,” he added.
Dr Muscat said that there are many opportunities available to strengthen and enhance the economic relations between Malta and Japan. A number of practical initiatives have already been undertaken that will contribute to this aim. He added that the time has again come to give serious attention to the potential of Malta as a foreign direct investment location for Japanese enterprises with an eye on the markets in the European Union and the Mediterranean region.
Dr Muscat said that another important area presenting opportunities for cooperation is blockchain, a field within which Malta is already breaking new ground. “We are going towards the digital social infrastructure on sovereign State scale, and work is already under way on the piloting of a blockchain platform. Additionally, the Malta Gaming Authority announced plans related to cryptocurrencies in the gaming context.
“The Malta Stock Exchange is working on the formulation of a strategy geared to addressing this emerging technology and will soon unveil the Malta Stock Exchange Blockchain Consortium, a think tank aimed ultimately at the design and implementation of blockchain applications. Blockchain technology will allow data to be recorded and shared in a trustworthy, traceable and secure manner, ensuring greater transparency and accountability.”