Directors agree with EU bid

The Institute of Directors approved Malta's bid to join the EU, saying this would allow the commercial area and entrepreneurs in particular to realise regional opportunities within a more stable and well-regulated environment.

Membership would attract new investment, position Malta as a country with European business standards and drive the basic positioning of Maltese business as a regional facilitator.

As Europeans in a global market, Maltese company directors believe that their workforces will benefit substantially as part of a market that services and supplies 500 million people.

The IoD said it was firmly committed to endorsing accession to the EU and recognised that a small state such as Malta cannot remain outside the EU in a global economy that rests on alliances between states to create significant trading blocks.

IoD singled out two other issues: the transparency resulting from pricing in euros, saying this would make Maltese business more efficient in both procurement and marketing; and the adoption of legislation that would provide a safer and healthier workplace for employees as a mandatory aspect of EU membership.

Various economic sectors are represented by IoD's membership, including manufacturers, service companies, professionals, financial services firms, the hospitality industry, leisure and entertainment, retailing, construction and the media.