Malta’s Stock Exchange should open itself up to internationalisation and, in so doing, it should look beyond Europe, Prime Minister Joseph Muscat said this morning,

He was speaking during a visit to the Stock Exchange where he said that, so far, it had focused on consolidating the local market.

It was now time to look beyond this, he said, adding that this should be based on three pillars: First there was the internationalisation of the Stock Exchange that should look beyond Europe. Secondly, it must ensure that international players already in the local market invested further in the local market and, finally, there should be an emphasis on transparency, he said.

Answering questions by journalists soon after, he said Malta should open itself up beyond Europe in other sectors. He mentioned tourism and health and as examples.

“Our message is that Malta is effortlessly European… On the other hand we need to concentrate on the region we are in… In order to grow we have to look everywhere around us and not only towards Europe,” he said.

He said he will soon be going to Israel to try and strengthen cooperation and have better relationship.

Asked if Malta risked falling out with other European countries, over the energy agreement signed with China, he said this was not the case since this was an open market.

“Everyone knows what the rules are and we will play by the rules,” he said.
Asked about Opposition Leader Simon Busuttil’s claims that he expected to be informed about the memorandum of understanding, Dr Muscat said that Dr Busuttil had been informed with the rest of the population and will have the chance to vote on this proposal

“We signed the promise of sale agreement. Now we are negotiating. When the time comes to close negotiations, we will go to Parliament for a vote,” he said adding that he soon planned to give more details in Parliament about the agreement with China, with Libya and any other agreements there might be.