Apart from being one of the foremost business organisations in Malta, the Malta Chamber of Commerce, Enterprise and Industry is also a member of several pan-European and world-wide business organisations, where it can contribute to positions voicing the views of business in Europe. It is through these contributions that Malta’s voice is strengthened on an international level. The Malta Chamber has found it relevant in a local context, to relay one such declaration, issued by Eurochambres on the occasion of the G7 ministerial meeting taking place in Davos this week.

The President of the Malta Chamber, Mrs. Helga Ellul, stated that this position is especially relevant to Malta. “It is pertinent, particularly for small open economies like Malta that the world steers away from protectionism. Economies like ours have very limited scope for generating growth from internal drivers and, in turn, they are dependent on the continued international exchange in goods and services for their continued creation of wealth,” she said.

The position includes the following:

Acknowledging the crucial role that the WTO has played in fostering global economic growth, development and employment by incrementally liberalising world trade policies, improving market access and promoting a stable, transparent and internationally-accepted multilateral system of trade rules and instruments and a dispute settlement mechanism.

Reiterating that open markets are key to economic growth and development during this fragile post-crisis period. Full economic recovery is only possible with an effective and efficient rules-based multilateral trading system.

Continuing to support the Doha round and welcome the political momentum created after the G20 Seoul Summit, the Yokohama APEC Economic Leaders’ Meeting and in Geneva.

Believing that a deal is within reach and call strongly upon both negotiators and political leaders to conclude an ambitious, comprehensive and well-balanced Doha round before the end of 2011.

Highlighting the benefits that Doha can bring (according to Peterson Institute for International Economics It is possible to achieve gains derived from the agriculture and NAMA negotiations of roughly US$65 billion of additional world exports annually and approximately US$100 billion in annual world GDP. Concluding the Doha Round could overall boost the global exports in ranges between US$180 billion and US$520 billion annually, depending on the level of ambition. The potential GDP gains are significant: between US$300 billion and US$700 billion annually. A successful conclusion of the Doha Round would contribute significantly to the achievement of the Millennium Development Goals.

Considering that a failure of the DDA Round could have adverse effects on the way the WTO is perceived, which would be most regrettable given the vital role the institution plays as a framework for global trade and as a guarantor of legal rights for business engaged in international trade and investment.

Strongly asking to roll back protectionist measures that many countries have implemented or are planning to put into practice as a consequence of the global economic crisis. Calling to start the discussions on a post-Doha strategy as soon as the Doha Round will be successfully concluded in 2011.