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