Malta and China have signed a Memorandum of Understanding (MoU) for a 5-year period that will help the countries to strengthen their economic ties. The MoU is expected to create “many opportunities for business development” for Chinese companies in Malta, as well for Maltese companies in China. The MoU will cover several industries among which energy, technology and tourism.
The Memorandum of Understanding called the Medium-Term Cooperation Plan was enforced at the end of 2015 even if it was signed several months earlier. The document was described as “a blueprint for a multifaceted, future cooperation” between Malta and China and it is aimed at providing numerous investment opportunities for Chinese and Maltese companies until the end 2019 and possibly even after. The MoU is the first document of this type signed by the two countries and covers several large and important industries, among which:
During the 2015, Chinese companies have invested over 95 billion USD in Malta and in 2016 this number is expected to grow by at least 10%. Chinese investors already consider Malta as an important presence on their investment map, hence the need to develop their economic relations.
Malta’s relations with China date back in 1972 and ever since the two countries have signed several bilateral treaties and double taxation agreements. Over the years Malta and China have had a good and steady cooperation and according to statistics, the trade volume between the two countries in 2014 stood at almost 4 billion USD, registering a 16% year-to-year increase. Also, in 2015 a Chinese company concluded the largest foreign investment deal with Malta with a total worth of 320 million euros. China is also open to let in and help Maltese companies looking to set up businesses there.
If you want to know more about trading relations with China, please feel free to contact our specialists in company formation in Malta. Our experts can also help open a company in Malta.