Only one in four local SMES make use of the European Union’s internal market, while only one in eight local SMEs are active outside the European Union.

A new partnership, entitled Trade Malta Ltd, will encourage local businesses to expand internationally, even outside the EU zone, helping them to reach places where it is not so easy to do business. Trade Malta Ltd (TML) is a joint partnership between The Malta Chamber of Commerce, Enterprise and Industry and the government of Malta through Projects Malta Ltd.  Projects Malta Ltd will hold 51% of shareholding, while the chamber will hold 49%.

The purpose of the project is to establish a permanent and effective partnership with the aim of assisting local enterprise to reach foreign markets.  The core services include providing trade support services, promoting incoming trade missions, undertaking research on new market opportunities and facilitating the development of trade clusters.  It will also ensure more synergy between ministries and the private sector.

Speaking at the launch of the partnership this morning, Prime Minister Joseph Muscat said that what can be best done within the private sector should be done by the private sector. “Two years ago we promised to build on the country’s economy, and this is what we are doing. We should not let other countries overtake us,” he said.  Dr Muscat said that businesses should expand to new markets, noting that a three-day mission to Algeria seeking to promote trade is being planned.  He said that the local industry has proven what can be achieved, and praised those entrepreneurs who overcame hurdles to make their brands successful. “The private shareholding with Enemalta is just the beginning – there are a number of huge possibilities,” he concluded.

Chairman of Projects Malta Adrian Said explained that the scope of Trade Malta is fostering a relationship between the entities and the government, allowing thinkers and doers to come together as a team to enhance the way local businesses expand internationally. The partnership will provide the service to both companies with a strong local presence as well as start-up companies – assisting them by sharing knowledge to develop a trade portal and to set up a customer representative and presenting opportunities present. Services will be provided to all Malta based companies, even if the owner is not Maltese.

Trade Malta will be operating from the Chamber of Commerce in Valletta, however until the offices are ready to be moved in, it will be running from Tigne Point, in Sliema.

Malta Enterprise will second a minimum of three employees of its own, while the chamber will second one employee. Projects Malta will handle the administrative side of the project.

The media

Journalists present for the event were not allowed to put forward questions to the Prime Minister. Communications coordinator Kurt Farrugia said that it is ‘simply not the occasion to do so’ and that there are other opportunities during the week when the media are allowed to ask questions.

However, it has now transpired that The Times were later allowed to asked questions to the Prime Minister. This is yet another case in which selected media where given access while The Malta Independent was left out.