Michael Cordina, Head of Commercial Banking at HSBC Malta, today said that the 50 million euro Malta Trade for Growth Fund launched late last year to help Maltese businesses trade internationally has been practically utilisede.

He said HSBC does its utmost to help Maltese businesses flourish and emerge with strategies to make Malta more attractive than ever for entrepreneurs to do business here.

Mr Cordina was speaking during the HSBC trade forecast held at the Hilton Hotel in St Julian's.

"Global trade is picking up momentum after years of sluggish growth," Steve Box, head of Trade and Receivables Finance Europe HSBC Bank plc, said.

Exporters and importers in cyclical sectors, such as transport equipment and metals, will be the first beneficiaries as the pace of growth in cross border commerce is predicted to recover by eight per cent next year from just 2.5 per cent last year, according to HSBC's trade forecast.

"World trade is set to resume its growth trajectory next year, after emerging from a period of stagnation triggered by the financial crisis, presenting fresh opportunities for businesses, the HSBC Commercial Banking study shows.

Minister for the Economy, Chris Cardona, expressed satisfaction that Malta has a good number of encouraging success stories all of which show the potential for Maltese companies to expand.

He said the government will continue to make our business environment more conducive to investment and growth.

By 2030, the trade forecast projects that merchandise trade will more than triple while India is expected to become one of the world's fastest growing exporters.

China is expected to increase its shipments overseas five-fold.