“Malta as an open economy has a lot to lose if the EU takes a protectionist stance on trade and investment” said Andre Fenech, Head of Policy Development at the Malta Chamber as he was participating in a panel discussion organised by MEUSAC. The event discussed the European Commission's reflection paper on harnessing globalization and the future of Europe.
Mr Fenech said that governments needed to curb populist calls for trade protection in some European countries. “Malta has a lot to lose from a protectionist stance, and we need to do everything in our power to safeguard the values of the European single market” he said.
Mr Fenech also said that migration could bring about opportunities in view of changing demographics on the European continent.
“Globalisation cannot be stopped or reversed” he said. “The EU needs to embrace the changes brought about by globalization. It must also be force-full in taking measures when level playing field is threatened during trade discussions amongst others”
The panel was further composed of representatives from the Malta Communications Authority, Ministry of Finance and GRTU. The event was also addressed by the Parliamentary Secretary for European Funds and Social Dialogue, Hon. Dr Aaron Farrugia and the Head of MEUSAC, Dr Vanni Xuereb.
The events on the future of Europe form part of MEUSAC's relaunch, to instigate a debate with all stakeholders on Europe's future. The European Commission's reflection papers deal with the social dimension of Europe, European defence, EU finances, harnessing globalisation and the deepening of the European Monetary Union.