Malta Enterprise to support companies affected by Brexit

The Get Ready scheme was launched during a business breakfast entitled “Brexit: threats, challenges and opportunities” organized by Malta Enterprise at the Phoenicia Hotel in Floriana and which was attended by almost 150 representatives of local businesses and stakeholders.

The event focused on the opportunities that may arise from the unfolding scenario, as well as the disruptions and challenges that Malta-based businesses may face as a consequence of the final Brexit deal.

Opening the event, Malta Enterprise CEO Mario Galea referred to the work being carried out by the Malta-UK Business Promotion Task Force, such as the various one-to-one meetings with British businesses, the inroads that have been made with the Indian business community in the UK, as well as the events that have been held, including events with the participation of the Prime Minister of Malta.

The business breakfast was then addressed by the Minister for the Economy, Investment and Small Businesses Dr Chris Cardona, who empahsised on the importance of planning for all the possible scenarios, “so as to better protect our citizens and businesses. We are talking about people, communities that can be highly impacted by Brexit, and it is our task as government to take into consideration all possible implications related to it.”

Mr Dan O’Brien, Chief Economist at the Institute of International & Economic Affairs, then delivered a keynote presentation during which he explored the possible scenarios and the impact that each of them might have on businesses. “The British economy has been more resilient than most ecnonomic forecasts and it will likely continue to adapt well to possible changes,” he highlighted, adding that “Free Trade Agreements are very difficult things to agree on, and this is one of the main reasons why the Brexit negotiations have been so long”.

This was followed by a panel discussion that, in addition to Mr O’Brien, also featured Mr Stefano Mallia, Chairman of the Brexit Advisory Group within the European Economic and Social Committee; Mr Martin Hignett, Managing Director, Trelleborg Sealing Solutions Malta; Ms Nusrat Shah, CFO, Exient; and Mr Edward Chetcuti, Director and Plant Manager, De La Rue Currency and Security Print.