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Korean Trade and Investment Agency to Establish Presence in MaltaMEDIA ROOM
July 9, 2015
The Korea-Trade Investment Promotion Agency (KOTRA) will be setting up an office in Malta. During a Korea-Malta business forum organised by Malta Enterprise in collaboration with KOTRA and the Korean Embassy to Italy, ambassador Lee from the Embassy of the Republic of Korea to Malta announced that KOTRA’s presence in Malta will be an extension of their office in Milan.
Through this initiative that will be fully supported by the Maltese government and Malta enterprise, Malta will be strengthening its business relations with Korea and East Asia. At present, Korea is already the 7th largest exporter worldwide with a strong presence within the Mediterranean and several Korean companies are also represented in Malta by Maltese companies.
In addressing the business forum, the Maltese minister for the Economy, Investment and Small Businesses Chris Cardona pointed out that while Malta can act as a base for Korean products and services on their way to be distributed in Europe and Africa, Korea can provide Maltese enterprises with niche business opportunities in East Asia.
Historically and traditionally, Malta has always conducted business with different countries and has been a worldwide manufacturing and trading hub in the past. Therefore, it comes as no surprise that Malta retains one of the highest exports per capita for products that are exported outside of Europe across the EU28.
Malta - a highly positive economic performance
Malta also experienced a highly positive economic performance of 3.6% real growth in 2014 and figures for the period January to June 2015 all stand to demonstrate that the same success will be repeated this year. Minister Cardona further stated that in order to continue strengthening ties with South Korea, a long-term collaboration and support of Korean and Maltese companies should be established through a working group.
Also present at the business forum were Director General of KOTRA Mr Jung, Malta’s Ambassador for Korea Mark Spiteri, and Malta Enterprise Principal Chief Officer Mr Mario Galea.