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Senior EU Commission representative
for Chamber conference
Hjalmar Forsberg, the coordinator of the European Union’s
Financial Services Action Plan (FSAP), will be one of the main
speakers at the conference being organised by the Malta Chamber
of Commerce on 10 November. Entitled, “Understanding The
Four Freedoms”, the conference will tackle the free movement
of people, goods, services and capital as these are bound to
influence the local business community on Malta’s EU accession.
Mr Forsberg will address the
conference specifically on Free Movement of Services. He is
one of several high ranking officials from the European Commission
who will
travel to Malta to participate in this conference, which is
aimed at discussing the four freedoms that form the basis of
European Union legislation. A former legal adviser to the Swedish
Ministry of Finance and Ministry of the Environment, Mr Forsberg
will examine the progress in the implementation of Financial
Services Action Plan (FSAP), which aims to have an integrated
European financial market by 2005.
“The financial services market in the EU remains fragmented.
This
limits the competitiveness of the Union and drives up costs
for both consumers and businesses. The FSAP was set up in May
1999, in order to meet the challenges of creating a true single
financial market,” said Mr. Forsberg. The Lisbon European
Council held in March 2000, identified the creation of efficient,
integrated EU financial markets as a motor for growth, job-creation
and economic competitiveness.
Integrated financial markets
have the potential to contribute towards economic growth and
employment.
John E Sullivan, President of the Malta Chamber of Commerce,
said:
“The presence of experts such as Mr Forsberg, together
with the other speakers, will help us all to appreciate both
the challenges and the opportunities facing us.”
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