'Wave' of EU openings for Freeport

Investments Minister Austin Gatt sees a wave of opportunities for the Freeport once Malta joins the European Union in May.

Operating from an EU country on the periphery of southern Europe, the Freeport stands to become "a stepping stone" into the continent, Dr Gatt said. This would provide a change to the traditional perception that the Freeport was a link into North Africa.

Dr Gatt was speaking to reporters after the inauguration of the new offices of Salvo Grima (Freeport Operations) Ltd at the Freeport.

The Malta Freeport ranks among the Mediterranean's leading transhipment ports and enjoys network connections to over 98 ports worldwide.

Asked about the privatisation process, Dr Gatt said this depended on the progress made with the unions.

The government has entered into detailed negotiations as well as consultations with the workers' representatives to give the terminal management contract to CMA/CGM for 30 years.

The Salvo Grima group has been operating at the Freeport for 14 years and their warehouses have been built with the intention of re-exporting. Last year, the company transported 15,000 tons of transhipment cargo.

The group is actively working to promote Malta as a hub for trading activities in the Mediterranean.