The First Malta-Bangladesh Business Forum, exploring commercial ventures between both countries

Reference Number:  , Press Release Issue Date: Jul 23, 2019
 

Video Link - https://www.youtube.com/watch?v=5HqMA9LItCs​


The first Malta-Bangladesh Business Forum was held today between the Ministry for Foreign Affairs and Trade Promotion, Trade Malta and the Malta Chamber of Commerce, Enterprise and Industry aimed at enhancing the commercial relations between both countries by highlighting the mutual opportunities offered by the respective business environments. Minister for Foreign Affairs and Trade Promotion Carmelo Abela addressed the business community who attended to this business forum and who are interested in exploring trade opportunities between Malta and Bangladesh.  


In his address, Minister Carmelo Abela remarked how this business forum is a tangible proof of the progress being registered in the strengthening of commercial relations between both countries. He spoke about the strong level of economic growth that both countries experienced in recent years and noted how the commercial relations between Malta and Bangladesh have experienced a notable increase, seeing average trade rising from around two million euro per year between 2004 and 2013 to around five million euro during the last five years.


“Malta has, through its air and maritime connections, demonstrated a proven ability to serve as a logistics hub to Europe and Africa. Such strong connections offer significant potential for collaboration, particularly for companies seeking the most effective ways of creating new business opportunities in the two continents”, said Hon. Abela. He added how international business links are facilitated by the double taxation agreements that Malta has with over 70 countries, while Malta’s membership in the European Union provides direct access to the European Single Market.


Hon. Abela referred to the importance of Malta’s economic renewal to the work of the Ministry for Foreign Affairs and Trade Promotion, the Embassies and the Consular. He emphasised his Ministry’s commitment at promoting Malta as a destination for business, trade, investment, tourism, health and education, amongst others.


Furthermore, Minister Abela showed Malta’s support on the progress in relations between the European Union and Bangladesh. He commended Bangladesh for their remarkable level of economic growth which in 2019 reached 7% and noted how Malta has similarly witnessed a significant GDP increase, becoming the fastest growing economy in the European Union.


Minister Abela concluded by referring to the two Memoranda of Understanding signed today between him and Bangladesh’s Foreign Minister H.E. Dr. AK Abdul Momen. The first MOU was on bilateral consultations between both countries whilst the seond was between the Mediterranean Academy of Diplomatic Studies based in Malta and the Bangladeshi Foreign Service Academy. This year marks the 40th year from the establishment of diplomatic relations between Malta and Bangladesh.


The Malta- Bangladesh Business Forum was also addressed by the Minister for Foreign Affairs of the People’s Republic of Bangladesh Dr AK Abdul Moment, High Commissioner of Bangladesh for the Republic of Malta H.E. Mr MD Jashim Uddin, Chief Execuive Officer Trade Malta Mr Anton Buttigieg and by the President of the Malta Chamber of Commerce, Enterprise and Industry Architect David Xuereb.




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