Trade Fairs Corporation earmarks new revenue sources

- International Fair of Malta opens today

By Matthew Vella
The Malta Trade Fairs Corporation will be targeting new scopes for business within trade fair organisation for the future, MTFC President Ian Mizzi told The Malta Financial and Business Times yesterday, adding that new sources of revenue have been earmarked:
"In the future Trade Fairs is considering undergoing changes to prepare for more events, and not only for those in Naxxar, but also in other towns.
"We already have two big tents for this purpose. So we are looking for more flexibility in the way events are organised. It is an opportunity for us to increase revenue from other sources. Currently one of these tents is being used by the Troy film crew." The MTFC is currently in the process of purchasing the Naxxar Fair Grounds when the lease ends in 2007.
Mizzi said the most important aspect of this year’s International Fair of Malta would be that it is the last before EU accession:
"This is an important factor in Malta’s role within the greater European economy. Our market is now set to grow from 400,000 to 500 million people, and the Maltese will also have access to free trade agreements with third countries.
"So the trade fair has an important role to play in the commercial development of the country.
"Trade fairs were always and still are important tools for the community and the commercial world in that goods and services can be exhibited to the public, businesses and foreign buyers. Many of the latter also come to Malta to buy goods from here."
A total of 308 Maltese exhibitors and five foreign countries will be taking part in this year's International Fair of Malta, which starts today at the Trade Fair Grounds and will carry on till July 13. A total of 336 stands are on display, filling up all available space. The great demand for space in the services sector prompted four more tents to be added to the usual 20.
Over 130,000 people are expected to make their way over the next week and a half to Naxxar for the main trade fair of the island, which has been a yearly appointment for the Maltese business and consumer society, the latter fetching special ‘trade fair’ discounts.
The fair was inaugurated yesterday by Prime Minister Eddie Fenech Adami and will run until 13 July.