SME Chamber

GRTU at EuroCommerce

 GRTU Director General Vince Farrugia participated in the EuroCommece Board of Administration and General Assembly in Brussels. One major item on the agenda has been the situation in the EU internal market following the submission of MEP Loius Grech report and the Monti report. While EuroCommerce is satisfied of the Louis Grech report, it is also highly critical of the confused approach used in the that of Monti. EuroCommerce believes in the strengthening of the internal market however at the moment there exists a confusion of use among top officials in the Commission and this is hampering further progress.


"The effective functioning of the internal market is extremely important for small economies like Malta. We are an economy that depends 96% on export of industrial production and an economy who's future depends on active participation in the internal market by its entrepreneurs and the strengthening of the role of Malta as a gateway to the free EU internal market. That is why Malta is amongst one of the most vociferous in the EU on the strengthening of the internal market" Vince Farrugia argued during the meeting on behalf of the Maltese business community. EuroCommerce is taking an active role on the white paper that will relaunch the single market.

Another important issue raised was the question on anti-dumping again Vince Farrugia made clear that GRTU stands foursquare with those who are against impositions of anti-dumping needs and confirmed he lobbied hard with the Maltese Government so that Malta takes a tough stance against all attempts to preserve the old and fight the new Europe which must be built on positive economic views and not an protectionism.

Two other major items concerned issues under the 2020 EU economic strategy and especially issues related to the revised energy efficiency action plan and the action plan 2011-2020.

Vince Farrugia also participated in the EuroCommerce SME Committee meeting which also discussed Late Payments, Anti Dumping, the Grech and the Monti Report, Anti Dumping and Trade Policy.

"Given the austerity Budget measures being proposed by Merkel of €85 billion in spending for Germany, and similarly the UK, Spain and possibly France, without excluding other member states, one has now to estimate the impact on the spending power on that section of the population on which so many SMEs and in commercial sector depend. The stimulus packages enacted by the Commission and the European Central Bank has hardly effected the micro and small businesses and the majority of medium end businesses. This meant small businesses are not only not out of the recession but many SMEs are in the worse position due to the pressure on their financial resources to sustain employment during the previous year. A cutting of the expenditure power within the community will send many small enterprises in the commercial sector out of business. This is especially true in economies like Malta that highly depend on tourism and spending of consumer goods. As the cut in expenditure in the countries will have a negative multiplier effect on economies like that of Malta." Concluded Vince Farrugia GRTU Director General.

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