11 May 2005

The Web

German-Maltese trade balance in 2004 at Eur610 million

The German-Maltese Chamber of Commerce has taken credit for the encouraging increase in the trade balance between Germany and Malta, which saw a 13 per cent increase over a one year period between 2003 and 2004.
Speaking at the annual general meeting of the German-Maltese Chamber of Commerce, President Henry J. Borg said that the trade balance between both countries increased from EUR540 million in 2003 to EUR610 million last year.
“We have shown that this is a no nonsense Chamber with a ‘let’s get things done’ attitude. The GMCC is a real partner for real results,” Borg said.
The GMCC’s work includes that of assisting German companies who are referred to the GMCC either by German authorities or by logging in to the GMCC’s website. Borg said that in 2004, the GMCC had 2,500 requests including that of a German beverage manufacturer interested in a setting up shop here in Malta with a Maltese partner.
Borg gave further examples of German interest: a large German electronics company currently discussing with strategic partners in several manufacturing areas; a German environment operator seeking a Maltese partner; a German company owner of a fleet of yachts seeking a local strategic partner to use Malta as a hub; two software developing Companies seeking local partners.
Borg added: “Another great achievement during the past year was that of signing a Collaboration Agreement with Bank of Valletta to assist the GMCC in its work. On one hand BOV will be financially supporting the GMCC over the next three years and on the other hand, the GMCC will re-direct any requests it receives to avail themselves of the Bank’s services.”

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