The Commonwealth Business Forum being held later this month will be an excellent opportunity for Malta to enhance its image and business potential in terms of trade and investment. The forum, which will feature top level speakers from 25 countries, is a one-off opportunity for Malta to attract global business leaders to Malta.

Apart from this, it is an exceptional networking opportunity and, as the chairman of the steering committee organising the event, Louis Farrugia, told businessmen last week, it is “a chance for Maltese business leaders to build new bridges and forge networks with top companies the world over.”

The Commonwealth Business Forum is the flagship event of the Commonwealth Business Council and over a period of three days, more than 90 speakers will address 500 delegates from Malta and around the world.

However, the success of the forum will not be gauged solely on the attendance or the event’s organisational success. The true benefits will depend on the extent to which Maltese businesses, public sector corporations and government leaders make the most of this three-day event.

It is all well and good to attract so many delegates and such high-profile speakers, but what this country really needs is tangible business contacts that will come to fruition in secure business opportunities for Maltese companies.

The problem with many conferences or fora of this sort is that delegates attend in force, listen to what many speakers have to say, and then leave at the end of the day, with little more than a promotional pack and a good meal.

If this is going to be the case, then the forum could have been held in any other Commonwealth country in the world.

Mr Farrugia encouraged businessmen to attend not only to listen to the likes of Philippe Courtois, president of Microsoft Europe, or Trade Commissioner Peter Mandelson, but to foster as many business contacts as possible. Mr Farrugia is one of Malta’s leading businessmen and what he really means is that delegates should network as much as possible.

This newspaper believes that officials from Malta Enterprise should be among the first to make the most of this opportunity. There is so much to be gained from attending this forum that we would expect some tangible results in the coming months.

It would be a feather in ME’s cap if, say, in six month’s time, it announces the successful conclusion of a number of business deals that were the result of networking during the forum. TMID believes there will be myriad opportunities for all sectors of the business community. The 500 or so delegates will be discussing and debating topics of strategic interest to everyone, such as globalisation and competitiveness, the climate for global business, trade and investment trends, opportunities for SMEs and business growth in the Euro-Med zone, as well as linkages between Europe, North Africa and the Commonwealth. Other relevant sectors such as oil and gas, health, transport, ICT and banking and financial services will also be discussed.

It would be a great shame if, by the time the Commonwealth Business Forum comes to an end, local businessmen have not gained anything from the experience. You can expect companies to find it very difficult to travel overseas to attend similar types of conferences, but when the event is being held on their own doorstep, they have no excuse.

The Commonwealth Business Forum will only be successful if the country manages to attract investment to our shores. Although this is an excellent branding exercise, and the exposure to international markets will be huge, the forum must serve as a basis for further business to germinate and to attract investment to our islands which, in other circumstances, would pass by our shores unnoticed.

It is an opportunity Malta can ill-afford to miss. Can we rise to the occasion?