21  It is also relevant to mention that although Malta does not benefit directly from the pre-accession funds which are available to the other accession countries of Eastern Europe, Maltese companies may already bid for contracts awarded to projects financed under one of the funds in question. (Instrument for Structural Policy for Pre-accession) The benefit would probably be lost under a looser form of agreement with the EU. BIS Review 69/2002  5  macroeconomic framework, political stability, high productivity levels, a transparent and simplified regulatory framework, and an assurance that business and productive activities are conducted in line with internationally accepted standards. This would, of course, hold true whether Malta joins the EU or not. Costs of participation in international fora obviated by EU membership While EU membership also entails the administrative burdens associated with participation in EU institutions, it should at the same time help to strengthen Malta’s presence in international fora. As Malta does not have the capacity to be present in every forum, it would be in a stronger position as a member of a large block. One could, of course, argue that this would also be achieved in other scenarios. Experience suggests otherwise however. For example, despite the efforts made to create a coalition of small states in the decision-making bodies of organisations such as the World Trade Organisation, the International Monetary Fund and the World Bank, and despite the fact that the specific problems of small states are universally recognised, these efforts have proved largely futile.

Forward-looking partnerships such as these create “win-win” opportunities for everyone involved, and help the local economy grow and prosper. Monroe Community College (MCC) also stands out with its significant workforce development initiatives. In fact, earlier this year Vice President Joe Biden – who was back in Rochester recently to announce the creation of a new manufacturing photonics hub – presented the college as a model for developing meaningful collaborations with employers to create job-training programs that align with current employment opportunities. MCC has taken a uniquely data driven approach to the development of tools and programs that work to address the most pressing workforce development needs in the greater Rochester area, and to provide diverse learners with clear paths to sustaining meaningful careers. For instance, the MCC Corporate College program has designed and delivered more than 100 new noncredit courses and provided education and training to more than 2,000 individuals. Additionally, the college has partnered with 128 employers, including CooperVision and Thermo Fisher Scientific, to deliver customized training to their employees. The Corporate College takes an innovative approach in providing workforce learning and development solutions informed by current labor market data and expert analysis. BIS central bankers’ speeches  3  There is increased awareness, both locally and nationally, of a growing skills gap within industries. Supporting middle-skill occupations has become a critical theme for many in the business community and within the workforce development community. In response to this issue, MCC announced a new collaboration with JPMorgan Chase called the Middle-Skills Bridge Program.