A memorandum of understanding within the One Belt One Road initiative has been signed between Malta and China.

The agreement provides the basis for projects, investment, and cooperation in the trade, financial services and tourism sectors to be carried out between the two countries.

The aim of the One Belt One Road initiative is to bring together different agreements. It signals to Chinese companies that, for the Chinese government, Malta is a good country to invest in with respect to European Union regulations.

Malta is among the first European countries with whom China has signed such an agreement. The signing indicates that relations between the two country will continue to be strengthened, the government said in a statement

The agreement was signed by Foreign Affairs Minister Carmelo Abela in the presence of Prime Minister Joseph Muscat and He Lifeng, the chairman of the Commission for National Development and Reforms.

Sign up to our free newsletters

Get the best updates straight to your inbox:
Please select at least one mailing list.

You can unsubscribe at any time by clicking the link in the footer of our emails. We use Mailchimp as our marketing platform. By subscribing, you acknowledge that your information will be transferred to Mailchimp for processing.