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€1 million cofinanced by EU funds for online platform assisting companies in international market research

More than 200 Malta-based companies have already benefitted from an online platform by TradeMalta to assist them in the conduct of market research prior to explore exporting into foreign markets.

More than 200 Malta-based companies have already benefitted from an online platform by TradeMalta to assist them in the conduct of market research prior to explore exporting into foreign markets. This EU-funded project, entitled “Internationalisation Knowledge Platform”, consists of an investment of around one million euros and is aimed at helping companies to succeed in international markets.

The event was addressed by Minister for Foreign Affairs and Trade Promotion Carmelo Abela together with Parliamentary Secretary for European Funds Aaron Farrugia. In his remarks, Minister Abela noted with satisfaction that this scheme is a first port of call for any company based in our country to access information on export markets. 

He remarked that this Internationalisation Knowledge Platform, like the other activities undertaken by TradeMalta, represents the integration between the foreign office and the commercial function. “We have started the journey. The path of integrating the traditional role of the Foreign Office and the commercial remit of a Trade Promotion Organisation, aptly called commercial diplomacy in most countries, is one I want my Ministry to spearhead in the next few years. We are determined to continue leading our trajectory in the direction of commercial diplomacy”, said Minister Abela.

Parliamentary Secretary Aaron Farrugia said that the European Regional Development Fund is financing infrastructural projects in the business and commercial sector, such as the innovation hub in Xewkija Gozo and the crafts village in Ta’ Qali. “Furthermore, €30 million is being invested in grants for SMEs through seven schemes, loans, and guarantees—that is, the SME initiative—as well as this €1 million project which allows TradeMalta to continue facilitating the work of Maltese businesses in exporting and exhibiting their products and services in an increasingly competitive and globalised world,” he said. 

In their remarks, TradeMalta CEO Anton Buttigieg and COO Joseph Schembri noted that the internationalization knowledge platform is an important milestone for TradeMalta. TradeMalta has assisted over 200 SMEs exhibit in various trade fairs, has taken 122 firms on trade missions, including on 6 missions to emerging markets. 

The internationalization knowledge platform is co-financed under the Operational Programme I - European Structural and Investment Funds 2014-2020 “Fostering a competitive and sustainable economy to meet our challenges”. More than 500 companies registered on the TradeMalta online portal.

 

Source: Press Release by the Ministry for Foreign Affairs and Trade Promotion and the Parliamentary Secretariat for European Funds and Social Dialogue

Published: 14 November 2019

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