Malta-Emirates double taxation agreement

Foreign Minister Michael Frendo and Mohammed Khirbash, Minister of State for Finance and Industry of the United Arab Emirates, signed an Agreement for the Avoidance of Double Taxation, yesterday.

The signing took place at the Ministry of Finance and Industry in Abu Dhabi after bilateral talks.

The agreement strengthens the framework for increased trade, investment and business opportunities between the two countries, Dr Frendo said.

Malta has around 45 similar agreements with other countries on the avoidance of double taxation and the prevention of fiscal evasion. Currently, another 15 Double Taxation Agreements are being negotiated.

Earlier, Dr Frendo met his counterpart, Mohammed Hussein al Shaari.

After the meeting, Dr Frendo said: "The Maltese have a high level of respect for the Emirates and for their achievements.

"In the context of the strong relations and increasing cooperation between the two countries, Malta and the UAE will be looking at ways to facilitate the movement of people between the two countries with a view to increased tourism and business activities".

During the meeting the two ministers discussed ways in which to improve visa issuance for the citizens of both countries and spoke about the on-going discussions between the European Union and the Gulf Countries Council (GCC) for the creation of an EU-GCC Free Trade Zone.

Dr Frendo was on a one-day visit to the United Arab Emirates. He will proceed to Australia where he will attend the Opening of the Commonwealth Games in Melbourne in representation of Malta, which currently holds the position of Chair-in-Office of the Commonwealth.

He will visit Maltese-Australian communities and meet members of the business community in several cities.