“The Yachting Services Trade Section is not just about yachting. It is a natural progression of where this industry is heading. The chamber is pleased to welcome on board these new members, who not only showed keen interest to become chamber members, but also who have worked hard to set up a new trade section within the chamber’s structures.”

Chamber of Commerce and Enterprise president Victor A. Galea said this at a news conference during which he announced the setting up of a new trade section dedicated to businesses related to yachting. He said the chamber had taken a conscious decision to become more proactive in this field and dedicate more of its resources to it, to ensure that their interests were given due consideration in their dealings with the authorities.

“We are calling it an industry as it is clear that yachting is an emerging sector, and a very important one at that. It may presently not involve a massive number of direct operators but, like tourism, it is closely linked to a vast number of business sectors.”

The chamber president added that there were various levels of yachting but even at entry level, it may be safely described as an expensive pastime. The sector was renowned for its high value-added content particularly at the super-yacht level at the highest end of the market. Yachts needed berthing places, maintenance, insurance, fuel and supplies. Yachters demand taxis, car hire, real estate, casinos, restaurants and entertainment among others.

In his presentation, Mr Wilfred Sultana, the first chairman of this trade section, gave an overview of how the yachting industry kicked off in Malta in the early 60s when the first yachts were berthed on anchor midstream in Ta’ Xbiex Creek followed in the early 70s with the construction of two quays in the same creek to bring into operation the marina at Ta’ Xbiex and that at Manoel Island.

“Further development in the 90s brought about the pontoon marinas at Torpedo Depot, Whitehall, and Mgarr, Gozo with the early years of the new century welcoming the construction of the two state-of-the-art marinas at Portomaso and Vittoriosa which makes a total availability of some 1,700 berths,” he added.

Mr Sultana stressed the fact that this industry symbolises personality and leisure, characteristics asserting a refined approach and quality service. The availability of technical knowledge and very skilled craftsmen, together with a competitive cost base, mild weather, English-speaking work force, and pleasant people set in superb nautical environment and great maritime tradition makes Malta a potential favourite for such opportunities.

He said that however, Malta was not alone in this beautiful sea regarded as one of the world’s most fascinating nautical playgrounds, a sea bordered by three continents and 21 countries – thus one has to excel in one’s product to compete with some very fashionable and established destinations.

Mr Sultana said it was their ambitious objective that this section would develop into a consultative body for the government.

Mr Sultana stated that the trade section was of a commercial nature however it would make it a priority to support and encourage the sport aspect of yachting. It was factual that yachting as a sport was a tasteful leisure activity generating valuable promotional exposure, and a tangible economic return, to whichever destination becomes associated with prestigious events.