EU Commissioner Joe Borg said that Europe's maritime economy is of critical importance and therefore it is important to embrace a common maritime policy that will eventually allow Europe retaining its wealth and quality of life in the future. Borg was speaking at conference organized by the Malta Economic Update together with the Maritime Law Advisory Council. During his speech, Borg was hinting at the Green Paper issued by the European Commission responsible for Fisheries and Maritime Affairs entitled "Towards a future Maritime Policy for the Union: A European vision for the oceans and seas". Commissioner Borg pointed out that the enlargement…