The governments of Malta and China signed a medium-term cooperation treaty that reinforces and strengthens the existing relations. Vice Premier Louis Grech and the Assistant Secretary of State Zhang Yesui signed the memorandum in the presence of Prime Ministers Joseph Muscat and Li Keqiang. The ceremony was held in the Great Hall of the People in Beijing.
This is the first medium-term cooperation with a country from the European Union. The first meeting for the implementation is scheduled for November 2014. These bilateral relations are also playing a big role with regards to company formations in the huge Chinese market.
This cooperation is an important step for Malta to strengthen their own position and make it more attractive. In the memorandum are mentioned investments from China in the aviation and financial sector, as well as double taxation treaties. A positive influence of China’s management and technical know-how is expected to influence Malta positively.
Both Malta and China agreed that the tourism sector is an important sector for both countries that should be supported and promoted further. Both countries want to work closely together in energy and infrastructure projects. The key factor is here sustainability by making use of natural resources.
In addition, the cooperation in scientific and cultural environments should be strengthened. The Chinese language and culture is going to be a subject in selected Maltese schools. Carriers and airlines should also be convinced to establish direct flights between Malta and China or a better exchange in the future.
At the office of Dr. Werner & Partner we are very eager to see what relationships and synergies are going to develop from the new partnership.
