Commonwealth project to facilitate small countries' exports

Commonwealth was working on a project to assist small countries whose role in the economic growth of different regions was pivotal, its secretary general, Kamalesh Sharma, told Prime Minister Joseph Muscat.

Meeting Muscat in New York, Sharma said the project would include assistance to small countries in business opportunities, especially in exportation. It is understood that the project is the setting up of a financial institution offering export credit to small countries.

The Maltese Prime Minister told Sharma that Malta would be interested in forming part of such an initiative, adding that the government would be exploring its possible involvement.

On his part, Muscat said Commonwealth member states should better address the needs of their youths and reiterated Malta's commitment in working on a youth guarantee for education, training and work.

The Commonwealth's secretary general, the government said, voiced his approval for such a proposal and noted that during November's CHOGM meeting, a youth support strategy will be launched.

This year's CHOGM will be held in Sri Lanka and is expected to focus on financial sustainable.