SPEECH BY THE HON. JOSEF BONNICI, MINISTER FOR ECONOMIC SERVICES, ON THE OCCASION OF THE PRESENTATION OF THE METCO EXPORT MARKETING AWARDS – TUESDAY, 15 MAY 2001

Your Excellency, distinguished guests, colleagues, ladies and gentlemen,

It is always a pleasure for me to attend metco functions, foremost amongst which is this special occasion. Today metco once again honours the successes of those who have placed Malta on the international business map by carving for themselves important niche markets. Our economic success depends to a large extent on the degree to which we are able to market our country and its products effectively abroad. This occasion pays tribute to those that excel at this endeavour.

The success of Malta's economic strategy rests on our ability to face the challenges posed by globalisation and the inevitable liberalisation and restructuring that this entails. Gone are the days when economic development could be addressed in isolation. In today's integrated world, our economic, industrial and commercial development must be viewed within the context of a fast changing, global scenario.

In this regard, metco has a key function. It is a catalyst for change, and a facilitator for those Maltese companies that are ready to take on the export challenge. metco's Mission Statement is just as relevant today as it was a decade ago, if not more so. metco's operations are a reflection of its Mission to "...encourage the integration of Maltese business into the global economy..." and to "...enhance the capability of Maltese industry to realise international business opportunities..." Fundamentally, metco has an important role in promoting the cultural change that will make companies more outward looking, enabling them to break out into other markets.

Judging from the ever-growing number of companies which choose to use the services of this office, and even more from the hundreds that have used metco's services since its inception, it becomes apparent that Maltese industry is actively taking up the export challenge. This Government is committed to helping these firms compete not through subsidies or protection, but through the endeavours of focused organisations like metco and by rewarding the successes of our companies.

The magnitude of metco's contribution can be seen from the numbers. For example, in 2000, metco had 151 participants in its six trade missions to Italy, Greece, Libya, Morocco, Egypt, Kuwait and the United Arab Emirates. In addition, metco organized the participation of 33 firms at trade fairs and exhibitions abroad. Represented industries included producers of food, furniture, toiletries and detergents and industrial products. There were also 76 participants at thirteen eu business location initiatives.

METCO was set up to offer a great deal more than merely the participation of companies in trade fairs. metco recognizes that exporters and would-be exporters needed a variety of services, including trade information and export marketing. In addition, metco has a wider role in international business cooperation and broader trade facilitation, an important component in developing Malta as a hub for trade and trade-related services in the Mediterranean. A major step was the recent opening of metco's office in Tripoli, Libya, the Corporation's first overseas branch. The services of this office are available to all businesses operating from Malta.

To realize our full international market potential, we have to seize opportunities in the markets that literally surround us. With our rich history in international trade and commerce and a reasonably wide production base of quality goods and services, we have at our doorstep a massive and rapidly growing Euro-Mediterranean market. We can relate equally well to Europe and to our neighbours on the Southern and Eastern shores of the Mediterranean. At the crossroads of Europe, North Africa and the Middle East, we face windows of opportunity in each of these areas. We should seek to use our small size to our advantage. Our smallness gives us an important competitive advantage. Our size gives us the responsiveness and flexibility that may elude larger businesses in our larger competitors. The future success of Malta's economic development strategy depends on the extent to which we, as a nation, are successful in re-positioning Malta for sustainable growth in all fields of trade, industry and commerce.

I will conclude by restating my firm belief in metco's mission and its pivotal relevance in a country whose industry has no viable alternative but to pursue export opportunities. Export-led restructuring is the only way for many companies to grow. I have enormous confidence in the skills and resourcefulness of the Maltese industrialist and I urge all companies to continue to involve themselves in metco's activities as they have done during the past twelve years. I am confident that this successful partnership will go from strength to strength and by doing so generate increasing prosperity for Malta.

Although the export challenge is a tough one, the fact that we are here this evening is proof in itself that Maltese companies can thrive in the international arena. Once again, I am delighted to convey my congratulations to all the finalists of metco's Export Marketing Awards. They are all winners and we need more of them.