Virtuous circle of positive developments

The HSBC Group, as one of the world's largest banking and financial services organisations, has well established businesses in 21 Commonwealth countries. Additionally, HSBC has a network of offices in 10 countries around the Mediterranean including Malta.

Accordingly, the forthcoming Commonwealth Business Forum was an obvious event for HSBC to support particularly given that the theme is Malta, the Commonwealth and the Mediterranean. The forum brings together political and business leaders and provides an excellent opportunity for Malta to discuss ways of further developing business and trade, investment and international partnerships with the Commonwealth countries and the Mediterranean.

We consider that Malta stands to benefit on several different levels from this event. The Commonwealth events are a unique occasion for Malta to promote itself to the rest of the world. The HSBC Group has been a strong backer of international companies bringing new foreign direct investment into Malta and our support of the Commonwealth Business Forum reflects our ongoing commitment to help promote this country as an ideal location in which to do business.

The Commonwealth Business Forum enables the Maltese business community to establish new contacts and create new business at the various meetings, discussions and social events which the forum provides.

With regard to the Commonwealth itself, HSBC is well established in Australia, the Bahamas, Bangladesh, Bermuda, the British Virgin Islands, Canada, the Caymans, Cyprus, India, Malaysia, New Zealand, Pakistan, Singapore, Sri Lanka and, of course, the UK, inter alia. Indeed, HSBC's presence in Commonwealth countries totals over 2,900 offices servicing millions of Commonwealth citizens across the globe in terms of personal financial services, corporate, investment and private banking.

Through HSBC's network of offices, we hope to be able to help Maltese businesses undertake business in the Commonwealth and Mediterranean countries. As the World's local bank in Malta, there is an excellent opportunity for the business community to make use of HSBC's global capabilities throughout the Commonwealth and Mediterranean. No other financial institution in Malta has that same capability.

The bank also intends to contribute towards the debates and networking that will be happening during the Commonwealth events, particularly given our existing contacts with a number of the major business and political leaders visiting Malta.

Apart from the immediate benefit for our economy, I believe a successful Commonwealth Business Forum - and the CHOGM summit - could be important catalysts in boosting Malta's image abroad and in boosting local business confidence at home in Malta. This could result in a virtuous circle of positive developments.

From a wider perspective, HSBC attaches great significance to the different cultures that are embraced by the Commonwealth and this exposure for Malta will be very enriching for our country.

HSBC's clear message to the Maltese business community is, first of all, to make the best of the networking opportunities that such a forum can generate. Secondly, here in Malta, the delegates and potential delegates have a banking institution like HSBC that is already present in many Commonwealth communities, already knows them well and therefore is in an excellent position to assist and support this networking process. Ultimately, we all want to help showcase Malta as a really worthwhile place to do business.

Mr Wallis is chief executive officer of HSBC Bank Malta plc.