Economy Minister Chris Cardona said that Malta can never be independent of the world around is since the size of our country and our lack of resources makes us dependent on foreign trade.

Dr Cardona said that when one witnesses what happens in emerging countries, one cannot imagine the positive impact such countries have on the rest of us in the same way a country's crisis can have a negative impact on most of us, referring to the Libya crisis which is leaving Maltese and Libyan businesses "lost".

He was speaking during the announcement of UK economy weekly newspaper The Economist gala dinner to be held next year in Malta.

Dr Cardona said SME employment in Europe is expected to grow, and is expected to bring about an additional 140,000 new jobs. "The government will continue to ensure that businesses thrive by creating the right environment to do business," he said.

This event comes after another event held in March by The Economist which turned out very successful and attracted a number of high profile guests. The Malta Independent is media partner.

Prime Minister Joseph Muscat and former London Mayor Kenneth Robert 'Ken' Livingstone, and John Andrews who is co editor, are to be present for the black tie event.

Dr Cardona said that The Economist has great pulling power, attracting high profile individuals during its events.

HSBC head of commercial banking Michael Cordina said HSBC wants to continue promoting Malta and events such as The Economist organises here helps promote Malta even more.

Guests will also get to learn to draw caricatures of high profile people like President Obama since cartoon enthusiast Kevin Kallaugher (editorial cartoonist for The Economist) is expected to give a drawing lesson to those present.