To enhance efforts aimed at integrating the Maltese economy, James Satariano, chairman of the Institute of Directors (IoD), has successfully negotiated a co-operation agreement with a leading EU organisation focused on the "Efficiency of the Board."

IoD has long been the voice of reform in corporate governance in Malta and this co-operation agreement is further evidence of IoD's role and status within the governance arena.

Executive director of the Fondation des Administrateurs, Marc Deschamps visited Malta to finalise the agreement with Mr Satariano and the pair held a number of bilateral forums to study specific commercial areas for joint activity.

During Mr Deschamps' visit it was agreed to focus on a number of key economic sectors, such as banking and financial services, where both parties command a high regard.

IoD were hosts of the Commonwealth Secretariat's international conference on corporate governance for central bankers and bankers. Initially the pairing of IoD with this European body will seek to develop activities in the Mediterranean.

Commenting on the co-operation agreement, Mr Satariano stressed that as a result of the ongoing relationship IoD would be assisting Maltese directors with a new source of information and training opportunities, while several new services from IoD would be introduced as part of the negotiated package with Mr Deschamps.

Mr Satariano is a founding member of the Mediterranean Corporate Governance Forum.