5 - 11 April 2001

French companies show strong interest in Malta

by Karl Schembri in Paris

“A whole list of companies” in France are interested in investing in Malta, the Prime Minister Dr Eddie Fenech Adami said yesterday.
Following a 45-minute meeting with French President Jacques Chirac at the Elysee Palace in Paris, the Prime Minister said Mr Chirac had commented favourably on the economic situation in Malta, adding that “a whole list of companies” were keen in investing in Malta, particularly in State-owned companies that were about to be privatised, including Malta Drydocks and Bank of Valletta. Dr Fenech Adami said there were ship repair companies which were “very interested” in investing in Malta Drydocks, as well as in BOV.
“Of course this is very good but we will take a final decision after evaluating all offers in Malta’s interest,” the Prime Minister said.
The French President expressed his country’s “unequivocal support” for Malta’s membership to the European Union. The French President denied media reports claiming France was not backing Malta.
“Mr Chirac told me France will be giving us its absolute support, it wants us to join the EU with the first group of countries,” he said.
Mr Chirac confirmed his country’s determination to keep to the target dates established in the Nice summit, with the first group of countries ready for EU membership joining in 2003.
With regards to State subsidies to the drydocks, these will have to stop, but this requires transitional periods.
“The drydocks subsidies have to be seen as a problem in itself – independent of the EU,” the Prime Minister said.
The Prime Minister said that although agriculture was a problem for Malta as regards the adoption of the acquis communautaire, “this was not a problem for the EU”.
“We will negotiate the chapter but the EU accepts Malta as a small island, with its own particular problems.”
The Prime Minister returned to Malta yesterday evening. During his visit to France, Dr Fenech Adami was accompanied by Foreign Affairs Minister Joe Borg. He met French Prime Minister Lionel Jospin on Tuesday.