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Maximising Competitiveness Of Small States

22 July 2004

Censu Galea
Malta's Minister for Competitiveness and Communications, Censu Galea

A competitiveness strategy is vital for small states as their size and, in some cases, the lack of natural resources make them vulnerable to sudden changes in external market conditions, says Malta's Minister for Competitiveness and Communications, Censu Galea.

Mr Galea was speaking at the launch of a workshop on 'Maximising the Competitiveness Potential of Small States', in Gozo, Malta, from 14 to 17 July 2004. The meeting was jointly organised by the Governance and Institutional Development Division (GIDD) of the Commonwealth Secretariat and the University of Malta.

The Minister observed that many small states depend heavily on imports for their consumption and investment needs. He stated: "This openness can result in a high degree of vulnerability to external shocks if the economy is only competitive in a few niches, such as tourism and financial services, that are susceptible to sudden changes in market conditions. On the other hand, such openness can become a source of economic resilience if it is backed by a strong competitive position that provides resistance against external shocks and allows successful participation in markets that are spread over different geographical regions and over a varied range of products and services."

Mr Galea also launched the book 'Competitiveness Strategies for Small States' (see 'New Publication' below), a joint project of the Commonwealth Secretariat and the University of Malta.

Delegates at the workshop included academics, practitioners and policy-makers from The Bahamas, Cyprus, Fiji Islands, The Gambia, Jamaica, Malta, St Lucia, Samoa, Tonga and Niue, as well as representatives of international organisations. They assessed the constraints faced by small states in maximising their competitiveness potential. Participants also focused on the high dependence of small states on international trade; and the vulnerability of small states, which severely limited the ability of these countries to participate effectively in international trade.

Dr RoseMarie-Rita Endeley, Senior Programme Officer at GIDD, said small states face a number of constraints which limit their capacity to compete with larger states.

"Small states are the ones that depend most on international trade due to the small size of their domestic market. They are also the ones that face serious disadvantages in meeting the competitiveness challenge. The Commonwealth is concerned with building capacity in small states to enable them to compete effectively in the international arena," she stated.

The workshop was funded by the Commonwealth Fund for Technical Co-operation, the development arm of the association. The Commonwealth supports efforts by small states to adjust to changes in the global trade and investment environment.

 

CNIS - the Commonwealth News and Information Service Issue 193   21 July 2004

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