Responses from Mister Michael Hilti
to questions posed by exclusiv magazine

The European Economic Area (EEA) entry has brought along advantages and disadvantages. On the one hand, the industrial sector has particularly derived benefits from the dismantling of customs and trade barriers, and on the other hand the Principality of Liechtenstein had to open itself up for other things. How do you assess the EEA balance?

In principle, very positively. From the viewpoint of the industrial sector the accession to the EEA can be evalu- ated as a success on several levels. On the one hand the accession has positively changed quite a few things internally. And so the independent appearance on the European stage has brought us a certain degree of maturity and independence from Switzerland.

Positive effects also emerged in the mutual under- standing and in the collaboration between economic associations and the government, which have become much closer on account of the mutual experiences. This improved mutual understanding was later of great benefit in presence of challenges such as the black listing through the FATF, the establishment of the «Image Liechtenstein» foundation or the co-operation with respect to the future financial location Liechtenstein.

How much will the eastward expansion of the EU influence the EEA in the future, and how much will it influence the industrial sector in Liechtenstein?

As already mentioned, our membership in the EEA also ensures the unhindered access to the new EU countries. It cannot be estimated today how the new EU countries will influence our economy. On a medium to long-term basis we reckon with substantial growth from these countries, but will also have to reckon with intensified cost competition. However, I am convinced that the Liechtenstein business enterprises, which always had to face the world markets, will master this challenge.

The new EU countries also bring new ideas and impulses into the EU, for instance, if one thinks of the flat tax from Slovenia. Impulses that also compel one to rethink certain positions in the old EU states. I think this is very good, and so movement will again be created and the position of the smaller states will be strengthened.

Vocational training, continued vocational training - topics which are indispensable for the well-functioning, established image of the industrial location Liechtenstein. What duties is the Liechtenstein Chamber of Industry and Commerce (LIHK) assuming with regard to the topic of training?

I see the influence possibilities of the LIHK in relation to vocational training and continued vocational training on several levels. First of all, it is a matter of becoming a competent sparring partner for the educational institutions. We can only have an influence on education/training if we ourselves have clear visions of educational contents and forms, etc. that are supported by the industrial sector. Moreover, it is a matter of exerting influence through the LIHK - to co-ordinate and strengthen the cross-border competencies of already existing educational institutions in an even better manner. Many things have already been achieved in the recent past, but there is still existing potential for optimisation.

What is or are your desire(s) for the future in the office of the LIHK President?

On the one hand, that the open and very constructive collaboration within the LIHK and strengthened with the other major economic associations in the country will continue to develop so positively. And on the other hand, that we finally take care of our urgent «homework», such as a new tax law that no longer allows «ring fencing», or the revision of the foundation law, of which considerable urgency has repeatedly been spoken about for over 2 years.

The Liechtenstein dialogue has stridently shown that our financial location is exposed to serious changes and pressure, and remains so. And we should finally start to take action instead of merely allaying these concerns. Time is slowly but surely running out on us - complacency is uncalled for!


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