Entrepreneurship has always been part of Malta’s national identity, and the country has always sought to forge and strengthen commercial ties with all of its neighbours. One of the areas in which Malta has traditionally excelled is in connecting trade flows between the North and South Mediterranean.

New and exciting commercial opportunities have arisen for Malta, and indeed the whole of the EU, following the so-called Arab Spring and the emergence of a new economic scenario in North Africa.

In the past, entry to North African countries had been strictly controlled through very fixed channels. These channels however no longer exist. Traditional entry routes have now been dismantled giving way to newer ones. While the new routes have not been firmly established and entry procedures have yet to be refined, the new scenario brings fresh business opportunities.

It also brings fresh challenges. Novel ways and means of addressing the fast-evolving economic dynamics affecting the Euromed region are required. Tunisia, Egypt and Libya in particular, are going through an intensive and challenging transition. This transition aims to set up institutional structures and a new legal regime, enabling a solid foundation for their respective economies to recover and re-integrate in the global economy.

High level government speakers from these countries recently convened in Malta for an international conference organised by the Malta Business Bureau (MBB) together with the Ministry for Fair Competitions, Small Business and Consumers headed by Minister Jason Azzopardi. Although in their early days of new administrations, it is evident that these countries feel the need to begin prioritising the private sector by addressing it at policy level. Attention is already being given to improving the conditions for international investment in the respective North African countries. Some of the measures currently being planned include de-regulation, providing funding for investments, and improving conditions on the repatriation of profits.

No economy can stand on its own. The cross-border links between businesses on both shores of our Mediterranean Sea is a natural process that is beneficial for the holistic growth of the Euromed region.

Malta already has strong traditional links with North African business. The relationship with these countries was further strengthened by the fact that Malta lent vital aid to the people during the political upheavals, providing support to those in dire need during these critical periods.

These assets coupled with the emerging opportunities place Malta at a unique advantageous positioning, where we have the opportunity to be protagonists in helping Europe accessing the North African business market.

For this to take place the North African countries need to fully identify the changes they are willing to make in opening up their markets, and cement them through suitable policy. However the EU also needs to improve its policy and provide the necessary tools and instruments needed for its entrepreneurs to effectively move into the North African market.

In view of all this, the MBB encourages the Maltese private sector to take on a participating role in the process that is shaping the new realities of the southern Mediterranean. Private business should be an actor and not a mere executor of projects. Its collaboration is crucial for economic growth, the creation of employment and social development, which is so urgently required in the region.

Mr Vella is president of the Malta Business Bureau and heads the Advisory Services at Grant Thornton. The MBB is the EU-business advisory and support office for the Malta Chamber of Commerce, Enterprise & Industry, and the Malta Hotels and Restaurants Association