The first Chambers of Commerce were founded in 1599 in continental Europe (Marseille, France and Bruges, Belgium) and the world’s oldest English-speaking Chamber of Commerce is that of New York City, which was established in 1768. The largest Chamber of Commerce in the UK is the North East Chamber of Commerce (with over 4,000 members). It is said that the oldest Chamber in the English-speaking world with continuous records is the Glasgow Chamber of Commerce founded in 1783.

A Chamber of Commerce is a form of business network whose goal is to further the interests of businesses. Business owners form these local societies to advocate on behalf of the business community. Local businesses are members, and they elect a board of directors or executive council to set policy for the chamber. The board or council then hires a President, CEO or Executive Director, plus staffing appropriate to size, to run the organisation.

The variety and scope of Chamber activities are unlimited. The Chamber represents and promotes the area’s business economy, and encourages business and industrial investment, broadening the tax base and providing employment.

Between 1809 and 1814 a single organisation composed of members from both local and British communities had existed in Malta with the scope of encouraging the formation of a stronger and more cohesive commercial community but after this period the two groups formed their own separate establishments.

With the scope of encouraging the formation of a stronger and more cohesive commercial community the Governor of the Island, Sir Richard More O’Ferrall, took a keen interest in commerce and it was due to his strong desire to make Malta a spearhead of British trade in the Mediterranean that the re-organisation of the commercial community arose and the Malta Chamber of Commerce and Enterprise was born in 1848. In the process, O’Ferrall had managed to bring together in one officially recognised Chamber of Commerce, the two separate organisations of Maltese and British merchants.

Sir Richard found great help in the person of Sir Agostino Portelli, K.C.M.G., a leading merchant who was also a politician and who held a seat in the first Council of Government of Malta. Sir Agostino became the first President of the Chamber.

The Chamber was represented by nomination in the various Councils of Government that followed. The first self-governing Constitution in 1921 gave the Chamber the right to elect two senators. Incidentally, the first Prime Minister under the 1921 Constitution, Comm. Joseph Howard, O.B.E., was also a former President of the Chamber.

The growth and success of the Chamber of Commerce throughout its long and glorious history is to be seen in close connection with the rise in trade and commerce. As Malta’s economy became more prosperous in the early 19th Century, the importance and need of a strong Chamber of Commerce assumed a new dimension and role. At times of war, Malta’s economy prospered due to its strategic location.

In 1857, the Exchange Buildings, constructed on its present site in Republic Street, Valletta was inaugurated. The ‘Borsa’ or Chamber of Commerce played an important role in the development of Maltese maritime trade and since 1848, this building has been the centre where merchants and shipowners and brokers met and discussed their business. Although the coffee houses of Merchants Street or the Valletta marina were a natural meeting place, the courtyard of the ‘Borsa’ provided a more professional meeting place for them.

During the Napoleonic Wars (1800–1815), Malta’s economy prospered and became the focal point of a major trading system. In 1808, two-thirds of the cargo consigned from Malta went to Levant and Egypt. Later, one-half of the cargo was usually destined for Trieste. Cargo consisted of largely British and colonial-manufactured goods. Malta’s economy became more prosperous from this trade and many artisans, such as weavers, found new jobs in the port industry.

Two notice boards at the Chamber of Commerce contained the latest information on the movements of Maltese-owned ships in far-away ports. Information was also provided on vessels expected back. This information was mainly supplied through Lloyd’s intelligence system, but very often this was also provided by masters of ships arriving here. It was normal practice for masters to report on ships they had encountered during their voyages. Gleaning through these reports, the term ‘Bound for the Black Sea for Orders’ features after many a ship’s name. This clearly illustrates the amount of trade carried out by Maltese ships and trading houses with the ports of Odessa, Berdiansk and Taganrog. Amongst other notices that hung on the notice boards at the Chamber of Commerce were the list of members of the Chamber of Commerce and also the rules of the billiards room.

In the courtyard of the ‘Borsa’ one still finds a silent relic of the past. In one of the corners rests a bell which used to be rung before important announcements – one stroke if bad news, two if good.

In 1869, the opening of the Suez Canal benefited Malta’s economy greatly as there was a massive increase in the shipping which entered in the port. The economy had entered a special phase. The Mediterranean Sea became the “world highway of trade” and a number of ships called at Malta for coal and various supplies on their way to the Indian Ocean and the Far East. By 1882, Malta reached the height of its prosperity.

However, the boom did not last long. By the end of the 19th century, the economy began declining and by the 1940s, Malta’s economy was in serious crisis. This was primarily due to the invention of large ships which had become oil-fired and therefore had no need to stop in the Grand Harbour of Malta to refuel. The British Government had to extend the dockyard.

The Chamber of Commerce in Malta celebrated its 160th Anniversary in 2008. In post-modern society, Chambers of Commerce are increasingly involved in non-commercial areas, such as education, human relations, environmental, cultural and governmental concerns. These challenges have caused Chambers of Commerce to become a viable force in seeking solutions to today’s social problems. Chambers of Commerce influence national, state and local legislation affecting business.