The Malta Chamber’s History

From the British Empire till today The Malta Chamber’s history

Writing in The Malta Chamber publication ‘La Borsa’, published in 2013 and edited by Judge Emeritus Giovanni Bonello, Robert Micallef emphasises that The Malta Chamber was one of the first to be established as a constituted body within the British Empire in 1848, predating the London Chamber of Commerce which was founded over 30 years later, in 1881.

BY CORYSE BORG

The Malta Chamber was created out of a merger of the Society of British Merchants (set up in 1808) and the Casino San Giorgio, which was made up of Maltese merchants. It was due to the strong wish to make Malta a spearhead of British trade in the Mediterranean by the Governor of Malta at the time, Sir Richard More O’Ferrall, that the first iteration of the Malta Chamber of Commerce and Enterprise was born. His right-hand man in this endeavour, Sir Agostino Portelli, K.C.M.G., became the first President of the Chamber, with John Grant as Vice-President. It was agreed that the new institution would be housed in the old Borsa in St Paul Street, while at the same time, new premises would be erected. In 1857, today’s Exchange Building was inaugurated, also housing the Banco Anglo Maltese and the Banco di Malta. The institution received government recognition and the Commercial Code was enacted, recognising The Malta Chamber as the body representing the commercial sector.

In its formative years, the Malta Chamber was very much involved in improving the conditions of Maltese sea merchants and ship owners. In addition, it promoted Malta’s transit trade by achieving better arrangements for the transfer of ownership of goods in bonded stores through the adoption of the Dock Warrant used in Britain and by efforts in favour of better storage facilities. Other matters undertaken by the Malta Chamber included the provision of quarantine facilities and currency matters. Moving on to the 20th century, Carmel Vassallo’s excellent book ‘The Malta Chamber of Commerce 1848-1979; an outline history of Maltese trade’ gives a detailed account of its lows and highs before, during and after the two World Wars. Vassallo writes that, for The Malta Chamber, the late forties were “years marked by notable institutional events, such as the celebration of its own centenary; the breakaway of budding industrialists; the retirement of A. Cassar Torreggiani, the ‘Churchill of Maltese commerce and, last but not least, the founding of the Commercial Courier, The Malta Chamber’s very own publication.” Robert Micallef writes that in his address to the Malta Chamber’s 131st Annual General meeting on the 14th of December 1979, the then-President Sydney A. Gatt said that the end of that year was a watershed in Malta’s contemporary history in terms of economic and industrial development. In the early eighties, the Malta Chamber complained of a deteriorating economic situation reflected in increasing unemployment, import restrictions and a freeze in wages, among other factors. Meanwhile, the Malta Chamber was already advocating membership in the European Community as the best option for the Maltese economy, particularly in relation to opening up export opportunities. “Malta’s accession to the European Union in 2004 created a new economic setting that corresponded with a drive towards greater coordination among the business community,” Micallef writes. This eventually led to a merger between The Malta Chamber and the Malta Federation of Industry, and The Malta Chamber of Commerce, Enterprise and Industry was born on the 3rd of January 2009.

THE ‘BORSA’

Writing in ‘La Borsa’, Prof. Vicki Ann Cremona writes that the ‘Borsa’ or Exchange Buildings was inaugurated under the governorship of William Reid: “The imposing space, designed by Maltese architect Giuseppe Bonavia bore the name ‘Borsa di Malta’ on the façade in big gold letters… (it) was erected in the fashionable neo-classical style which was also characteristic of the Royal Opera House that was to grace the entrance of Valletta a few years later.” It was built around a large courtyard, which was roofed over many years later. Apart from being used for business purposes, the building also contained a club (or ‘casino’ as it was then called), as well as a café and restaurant. All members were automatically also members of the club which was open to “all the respectable classes of Maltese society.” Writing in the same publication, architect David Felice explains that the building was designed by Bonavia following a call for the submission of proposals. “It represents a radical stylistic departure from the Mannerist and Baroque architecture that prevailed in the capital city till then. Bonavia adopted a restrained and simplified Neo-classical style that – according to (architect) Conrad Thake - is not dissimilar to the work of Robert Adam,” writes Felice. Its inauguration in 1857 saw a Grand Ball which was later to be described as “one of the most magnificent and brilliant parties ever to be held in Valletta.” The three-storey building is divided into three basic blocks with the central part pushed back at the upper levels. The outside is retrained in terms of decoration with low relief sculpture being contained within the spandrels of the arched doorways at ground level and the circular medallions set above the Serliana windows and first floor levels. Inside, the building boasts a number of works of art ranging from portraits of past Presidents by the likes of Giuseppe Cali, Edward Caruana Dingli, Luciano Micallef and Raymond Pitré, amongst others, to the Vedute paintings and the Sacred Heart of Jesus painting, as well as more contemporary paintings, sculptures, busts and monuments. n