Malta has signed an economic Memorandum of Understanding with China

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On Wednesday 9th July, Malta and China signed an economic Memorandum of Understanding, which is aimed at boosting China’s economic investment in Malta. The two States recognise the excellent relations between them and the potential for further enhancement of mutually beneficial cooperation in various fields.

Energy

The States recognise the importance of energy security and cooperation and thus undertake to encourage investment and technology transfer in this sector.

Infrastructure

The States undertake to discuss cooperation in concrete projects in support of both Malta’s and China’s efforts to improve infrastructure, in particular, projects related to transportation, energy, telecommunications and housing construction.

Civil Aviation

The States agree to negotiate a new Air Services Agreement, and to encourage airlines and air cargo carriers to consider the establishment of direct flights between points in their respective territories.

Financial Services

The States undertake to encourage financial institutions to operate in each other’s territories. The Parties agree that the operations of Maltese and Chinese financial institutions in each other’s territories shall be conducive to bilateral trade and investment activities.

Research and Innovation

The States undertake to promote contacts and exchanges between public and private research institutions and universities in their respective countries. They shall also encourage specialist enterprises, including innovative SMEs within their respective jurisdictions, to consider establishment of research and development facilities, production ventures and holding companies for intellectual property rights in each other’s territory.

Education

The Parties recognise the contributions made by and shall continue to support the operations and expansion of the Confucius Institute at the University of Malta. They shall also actively seek and encourage exchanges and cooperation between Chinese and Maltese higher education institutions.

Media

The Parties shall actively seek and encourage the co-production of films and TV series, and shall enter into a Film Co-Production Agreement and a Television Co-Production Agreement to support such activity.