On 23 June, the Ministry for Economy, Investment and Small Business launched the Trade Malta Export Response Scheme, a measure that had been announced as part of Malta's Economic Recovery Plan rolled out by Government on 8 June. The Scheme is aimed at providing assistance for Malta-based exporters to help businesses maintain their visibility in international markets through digital channels and training in digital marketing as well as obtain refunds for eligible expenses related to trade exhibitions which have been cancelled due to the COVID-19 pandemic.
Businesses advertising online in international markets and/or providing eLearning courses to their staff in digital marketing can benefit up to €10,000 with a 50% refund for eligible costs. This measure covers expenses dating from 1 March 2020. Eligible costs include direct advertising on the main search engines, social media platforms, and other online platforms and the purchasing and / or participation of on-line training courses about digital marketing. Participation in on-line trade fairs may also be considered.
Businesses which incurred costs related to trade events which were cancelled/postponed due to COVID-19, thereby resulting in losses to the exhibitors can benefit from a cash refund of 80% of the irrecoverable funds, upon submission of evidence. Participation in the trade event must have already been approved by TradeMalta in line with its Trade Promotion scheme. This measure covers expenses dating from 1 January 2020.
The guidelines and application forms can be accessed from TradeMalta's website. The aid terminates on 31 December 2020.
Originally published by KPMG Malta, on June 2020
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.