Shakers and movers

When I first glanced at the profile of speakers for the Commonwealth Business Forum being held here between November 22 and 24 I was pleasantly surprised by the high calibre of those confirmed, many of whom are internationally known captains of industry with impressive track records.

I cannot recall another event in recent years which brought together such a spectrum of global players and top entrepreneurs. The fact that these people are coming to Malta is perhaps indicative of the role the island can play as a bridge between Europe, North Africa and beyond. This is an opportunity we must grasp with both hands.

The Commonwealth Business Forum, organised by the London-based Commonwealth Business Council, is something of a coup for the island. Were it not for the Commonwealth Heads of Government Meeting - CHOGM, it is unlikely that the forum would have been held here.

As it happens, we now have something of a unique opportunity since the Business Forum has acted as a magnet for decision makers of some of the world's top companies to visit the island, thus enabling Malta Inc. to showcase its true but perhaps understated potential as a regional player in terms of trade, export, foreign direct investment, banking, transportation and tourism.

We have been presented with an opportunity to change things and put Malta firmly on the map as a regional player straddled between two important shores, that of Europe to the north and the Maghreb to the south, both of which are united by free trade agreements to which Malta as an EU member state is now also party. It, therefore, comes as no surprise that even the EU Commissioner for Trade, Peter Mandelson, will be addressing the CBC Forum in Malta.

The quality of the companies represented by their top people at the Business Forum will undoubtedly act as a potent attraction factor for many other companies and entrepreneurs. Suffice to say that the combined turnover of some of the international companies represented at the Business Forum by their global chairmen and/or CEOs is equivalent to the combined GDP of some fairly large countries.

Indeed, the presence of Shell, SNC-Lavalin, Microsoft, HSBC, PWC, Goldman Sachs, Bajaj Auto, Shanduka Group, Celtel International, Mahindra & Mahindra, Gulf Air, Deloitte, De La Rue and so on, presents a unique opportunity for both Malta and Maltese entrepreneurs to get the exposure and the possibilities of networking during the Business Forum itself.

For once it seems that global players are coming to Malta instead of us globe-trekking in search of business. It's a once in a lifetime opportunity not to be missed and we have an opportunity to make a lasting impression on these people, many of whom could be potential partners and investors in trade, transportation, tourism, telecommunications, ICT and manufacturing.

It comes as no surprise that many of the companies present are also very active in both Europe and the Mediterranean. For example, recent reports in the international press have indicated that Shell has struck a mega deal with Libya, while the Canadian multinational SNC-Lavalin is already very active in the Mediterranean, the Maghreb and other countries. In addition, the presence of the Algerian and Egyptian ministers for petroleum at the forum continues to boost this event and further enhances the interest of Maltese companies. Rumour has it that a number of highly influential business people and policy makers from Libya have also been invited.

ICT giants like Microsoft are present in a big way, as are traditional manufacturing companies like Bajaj Auto Group and Mahindra & Mahindra which are probably the largest South East Asian automotive manufacturers barring Japan. These too could be interested in Malta as a transshipment point and distribution centre, not to mention as a location for foreign direct investment.

And just to put things into perspective, a company like Bajaj Auto has over 20 million vehicles presently on the road and an annual turnover in excess of $1.2 billion.

Equally significant is the presence of the managing director of Goldman Sachs that counts close to 25,000 employees worldwide, have operations in 20 countries and an annual turnover in excess of $18 billion.

Another star speaker is Prince Walid Ben Talal of Saudi Arabia, who is widely considered to be the most successful entrepreneur in the entire Middle East and a global investor in manufacturing, construction, real estate and tourism of the highest standing.

I think there is little else that one needs to add. We have an opportunity in front of us and some of the world's most influential business people will be on our doorstep this November looking for new business opportunities, new ventures and new partnerships.

As a country with a history in international business which dates back to the Phoenicians, this is one boat Maltese business cannot afford to miss.

Mr Bajada is president of the Malta Federation of Industry.