The Malta Chamber of Commerce, Enterprise and Industry will be using the Commonwealth Business Forum to call for the creation of a Commonwealth Chamber of Commerce.
This would bring together chambers of commerce and business federations from across the association in a bid to facilitate business and investment collaboration.
“The pan-continental association would work on the same lines of similar organisations such as Eurochambres and Ascame, which have successfully worked towards the improvement of businesses conditions across regions and facilitating access to new markets,” chamber president Anton Borg explained.
Malta will next week host the Commonwealth Business Forum, and various entities believe it is an opportunity for Malta to showcase itself, for companies to network, and for constituted bodies to avail of an international platform.
“The Commonwealth can play an important and determinant role to help Maltese businesses to look beyond our shores as prosperity is propelled by international business. The Malta Chamber is pleased to contribute directly and play a central role as Malta’s foremost business organisation from the host nation at the upcoming Commonwealth Business Forum.
“After all, the Commonwealth is above all a coming together of people who are willing and able to engage with one another to maximise the opportunities that arise and to develop close and lucrative economic ties.”
The sharing of governance stories could be an important learning experience
The 53 countries in the Commonwealth have a combined population of 2.1 billion people, almost a third of the world population, and 17 per cent of the world’s GDP. But they also have startlingly different economic weights, ranging from the UK, India, Canada and Australia at the top of the list, to Lesotho and Malawi.
The chairman of Malta Enterprise, Mario Vella, believes the sharing of governance stories could be an important learning experience.
“The Commonwealth network comprises a great variety of economic development experiences. This diversity is derived from their unequal endowment in terms of natural resources, population, social structure and dynamics, culture and, above all, historical circumstances.
“Although I do not think that any particular country can and should project itself as superior and as a model of political virtue to be copied and followed by the rest, a critical evaluation of our various governance experiences will no doubt enable all of us to improve our record, to the advantage of economic development and growth,” he said.
He also sees important opportunities for Malta, even though only two of its main markets are in the Commonwealth – the UK and Singapore.
“However, goods produced in Malta are well established in Commonwealth member countries, security printing products and processed foodstuff in African Commonwealth countries are a case in point.
“Our bid to seek stimuli of economic growth outside the economically sluggish Europe, is nudging us to reassess the great potential of the Commonwealth. On the other hand, we must never forget that markets are not conquered with history but with competitiveness,” he said.
The Commonwealth Business Forum will also present networking opportunities, which David Bullock, the president of BNI Malta, believes could lead to considerable business.
Mr Bullock set up the BNI chapter in Malta in2010, as part of this networking organisation that spans 45 countries. He wants to put Malta “where it should be” on the world map – and that the forum will help put it there.
“Visiting international businesses will see the potential of Malta as a regional hub, with all the long-term strategic advantages that it can bring. I am convinced that Malta has the potential to be the Singapore of Europe.
“Back in the 1970s, I ran a large international business in Southeast Asia and witnessed the rising influence of Singapore under Prime Minister Lee Kwan Yew to become the natural place for international companies to establish their regional head office and from which to develop their business.
“Malta has similar advantages, e.g. strategic location, good communication facilities, sound financial institutions, English-speaking, strong work ethic, excellent health and education facilities to keep an expatriate family happy, a good climate, excellent sailing and diving – just like Singapore.
“As the dust settles after the event, people should be encouraged to think outside the box on how to maximise Malta’s dual membership of the EU and the Commonwealth.
“From what I have seen the Maltese government, the Commonwealth Secretariat and the Commonwealth Enterprise and Investment Council have been working hard to ensure a strong line-up of high profile international speakers and delegates for the Business Forum. Now it is over to the Maltese people.”