Malta’s story is one of growth, few barriers, sound finance, no punitive taxation, easy communication, solid regulation and transparency, Prime Minister Joseph Muscat said yesterday at the opening of the Commonwealth Business Forum being held in Malta.

“We are proud to be facilitators of dialogue but also of business. A forum such as this is about new partnerships being formed and deals being done,” Dr Muscat told delegates.

The Business Forum is this year reassessing how the Commonwealth can improve prosperity.

The Prime Minister said it might not always be easy for an organisation representing some two billion people to speak with one voice, but when it does, the world would listen.

“I believe that business can be the loudest voice. There is so much trade already going on among us.” This, he said, occurred in spite of the Commonwealth and not because of the Commonwealth.

“Imagine what we can do if we unleash at least part of the potential synergy we are standing on.”

Chair of the Business Forum Adrian Hillman said old business habits needed to be revisited if the Commonwealth was aiming to be more prosperous.

This forum will bear fruit if we engage with each other, challenge each other

“This forum will bear fruit if we engage with each other, challenge each other, push ourselves out of our comfort zones and question the status quo.”

Also speaking at the opening ceremony was Lord Marland, Chairman of the Commonwealth Enterprise and Investment Council.

“If we are going to drive enterprise, investments and trade in the Commonwealth you need a chair-in-office, which Malta is about to have, who is really committed to that.”

The chair-in-office is the leader of the Commonwealth country hosting the CHOGM, and the two-year role comes into effect at the start of the meeting.

“This is the beginning of something special and exciting,” Lord Marland said of the Forum.

About 1,200 delegates from 80 countries are attending the forum and it will be addressed by 20 heads of state.