Prime Minister stresses importance of EU responding to geopolitical changes in a strategic manner
During an informal meeting of European Leaders held at the historic Alden Biesen Castle in Belgium, Prime Minister Robert Abela stressed the importance of the European Union (EU) responding in a strategic and coordinated manner to the rapid changes taking place in the geo-economic and geopolitical environment.
These changes are impacting businesses and competitiveness, especially for small and open economies like that of our country, the government said in a statement.
Prime Minister Abela maintained that the EU should remain open to trade relations with various countries and regions, while continuing to strengthen its resilience, effectiveness, and competitiveness, both internally and globally. He emphasized that diversifying trade relations is a crucial means for the EU and its Member States to reduce dependencies, particularly in essential areas such as energy and raw materials, among others. At the same time, Abela said that the EU must defend and strengthen strategic sectors and technologies against unfair competition and economic pressure. Therefore, measures that in any way reduce competitiveness or negatively impact investment must be avoided, he said.
The Prime Minister stated that while it is important for the EU to continue advancing global solutions in favour of climate action, this same ambition must be measured, responsible, and aimed at strengthening not only the EU’s competitiveness but also that of its Member States.
“The single market is one of the European Union’s greatest assets. The EU’s resilience, and therefore that of the Member States, depends on a strong single market, together with internal policies and strategies that strengthen businesses and bring real benefits to citizens, including the Maltese and Gozitan people,” said Abela. He explained that for Malta, a stronger single market means more opportunities, more investment, greater export of services and products, increased competitiveness, and more jobs, particularly for small and medium-sized enterprises that seek to innovate and expand.
The Prime Minister stressed that Malta will continue to pursue a policy of incentives and sustainable growth, rather than a policy of austerity. He also emphasized the need for the EU to further strengthen connectivity, particularly in relation to energy, transport, and digital networks, as these translate into essential infrastructure for the effective functioning of the European single market.
At the same time, he remarked on the importance of also strengthening the European ecosystem to enable companies to succeed, with special attention to small and medium-sized enterprises so that they can continue to invest, increasingly embrace innovation, and expand.
This meeting was held at the invitation of the President of the European Council, António Costa, for European leaders to discuss strengthening the single market and the EU’s competitiveness. During the discussions, Mario Draghi and Enrico Letta provided their perspectives on these two main themes. These discussions are serving as preparation for the European Council scheduled to take place next month in Brussels.
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