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NEWS | Wednesday, 24 June 2009

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China to give €300,000 grant to Malta

Chinese Vice-Minister Jiang Zengwei has announced that the Chinese Government was allocating a 3 million RMB grant (€300,000) to Malta.
The eight session of the Sino-Maltese Mixed Economic and Trade Commission was held yesterday at the Mediterranean Conference Centre in Valletta. It was co-chaired by finance minister Tonio Fenech and Zengwei.
“During Chinese Vice President Xi Jinping’s visit to Malta in February 2009, the two governments signed the agreement on investment promotion and protection, which laid the legal foundation for investment cooperation between the two countries,” Fenech said in a press conference.
“Now we have built up on this visit to start preparing the way for implementation of joint investment promotion and joint trade promotion, such as through the Shanghai World Expo 2010.”
The discussions covered areas of common concern, such as the international economic crisis, in particular the effects on the respective economies and remedial action being taken.
Tonio Fenech also briefed the Chinese on Vision 2015 in a bid to encourage Chinese companies to take an active part in cooperation with Malta in sectors including health, information communication technology, aviation and shipping maintenance, education and training.
The commission also discussed topics such as VISA issuance in China, mutual recognition of diplomas and taxation frameworks which establish the platform and basis for joint investment.


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