HSBC Malta and TradeMalta have signed a partner support agreement heralding a new era in internationalisation of Maltese businesses amidst an increasingly competitive global economy.
The strategic partnership enables TradeMalta and its members to harness the worldwide reach of HSBC, whilst for the Bank it allows it to help Malta-based businesses succeed in the international arena.
The agreement was signed by HSBC Malta Commercial Banking head Michel Cordina and TradeMalta chairman David Curmi, in the presence of Minister for the Economy, Investment and Small Business Dr Chris Cardona.
TradeMalta was established in 2015 as a public-private partnership between the Government of Malta and the Malta Chamber of Commerce, Enterprise and Industry with the aim of assisting local enterprise in reaching foreign markets with their products and services.
It regularly organises country information and educational seminars, supports incoming and outgoing business missions, and undertakes sector-specific surveys. Thanks to the support of HSBC, TradeMalta has also instituted a rigorous training course for early-stage exporters called the ‘Go Global Programme’.
Michel Cordina said: “For 150 years HSBC has been where growth is, connecting customers to opportunities. HSBC Malta is committed to support businesses and helping them discover the strongest avenues for business growth. While HSBC Malta’s popular Malta Trade for Growth Fund (MTFG) addresses any financing hurdles businesses may face, the cooperation between the Bank and TradeMalta tackles all export-related challenges in their broadest sense.”
David Curmi said: “Financial institutions are pivotal to any exporter. Apart from providing trade finance they also offer a wide range of internationalisation services to businesses who decide to venture outside of our shores. We are very pleased that HSBC approached TradeMalta right after its inception and sought ways on how to actively collaborate with our Agency and the companies that interact with us. Today we are formalising a three-year agreement with one of Malta’s leading banks and through this arrangement the Bank will be supporting TradeMalta on various initiatives.”
Minister Cardona said: “This agreement strengthens and provides a more sustainable framework for TradeMalta, with HSBC’s collaboration being a vote of confidence not only in TradeMalta’s goals, but also in the enterprises shaping our booming local economy. We hope this agreement beckons Maltese businesses and service providers to think bigger, and beyond our local market.”
As one of the world’s largest financial institutions, HSBC is well established in key geographies and operates across a large number of the world’s most important trade corridors. Its global network serves customers worldwide from more than 6,000 offices in over 70 countries and territories in Europe, Asia, North and Latin America, the Middle East and North Africa.