Recently, we have been witnessing constant and regular reportage in the local press about the diplomatic and business relations between Malta and China. This is a clear reflection of the impact this emerging economic giant is making as a new partner in our country's development.
Our relationship has never been stronger. The Vice Minister of Commerce, Zhong Shan was in Malta just a few days ago to discuss potential investment by China in Malta in the fields of renewable energy, tourism and financial services. This clearly shows our government's commitment to the country's needs: trade and investment.
Total trade figures for last year show an increase of almost 10 per cent and the recently-signed Memorandum of Understanding between the MFSA and the China Securities Regulatory Commission will provide a huge benefit for the investment funds industry. The decision by Malta and Hong Kong to initiate and swiftly conclude negotiations for a Double Taxation Agreement will have significant implications, making Malta a very attractive proposition for investment. Cosco have just announced their second new service to Malta in just a few months, this time from Singapore!
In a nutshell, our revitalised relationship with China will provide job opportunities and take us closer towards the targets set out in the agenda within the wider Vision 2015 strategy.
In the second half of the year, we have had numerous visits abroad by Malta Enterprise to promote our country as an investment location. Indeed, there are now a number of Chinese companies in Malta on fact-finding missions, consultations regarding possible investment opportunities. This Administration's efforts to strengthen our ties with China will not stop here. Malta's forthcoming participation at the World Expo in Shanghai will be our next platform to promote Malta to China and the world. Our participation will be enhanced by a delegation of Maltese businessmen who are very willing to join in our efforts to present Malta as a committed, modern and dynamic country.
Our offices abroad have been working hard at wooing our Chinese friends. An indisputable indicator of the state of improved and healthy bilateral relations and commitment to this relationship is the frequency of visits that have taken place recently. Prime Minister Lawrence Gonzi's visit in October 2008 was followed swiftly by visits by Minister John Dalli in December, Brigadier Carmel Vassallo in January and Minister Austin Gatt in February.
The visit by Dr Gonzi was very important as it took place shortly after his election as Prime Minister for the first time. Indeed, his visit was appreciated so much that it was reciprocated by Vice President Xi Jinping, who honoured us by flying back to Beijing from Brazil via Malta. His visit should not be taken lightly because he is highly regarded and tipped as President Hu Jintao's successor.
We were also honoured with the visits by the Minister of Culture, Cai Wu and the Vice Minister of Commerce Zhang Zengwei during the year.
In June 2009, a very successful joint commission meeting was held in Malta and, in July 2009, five MPs, virtually all the members of the Foreign Affairs Committee of the House of Representatives visited China for official talks.
In addition to the above, no fewer than 12 bilateral agreements have been signed between the two sides in the fields of culture, health, the judiciary, commerce, financial services, broadcasting, investment and education.
On the human side, it is clear there is great friendship and admiration between the two peoples. This was clearly witnessed following the earthquake in Sichuan in May of 2007. A number of events were promptly organised to commemorate the event and to raise funds to provide aid to the victims. One hundred tents were immediately dispatched by Malta's Civil Protection Department. In a concert held later the same year in memory of the earthquake's victims, the Deputy Prime Minister and Minister of Foreign Affairs, Tonio Borg handed over a cheque for €23,000 in aid of the victims.
On that occasion he took the opportunity to express the sorrow of the Maltese people and demonstrate solidarity with the victims of the earthquake. He declared that relations between the two countries was more than one of mutual respect but one of mutual understanding and assistance.
The Embassy of Malta in Beijing also did its part by holding the Commonwealth Ball in Beijing, generating a further €18,000 for the victims.
So we look forward to continue to be instrumental in the building of a relationship with China based on friendship and mutual respect but within in the context of the realities of the two countries in a modern world. We will continue to make a strong and sustained effort to engage with China on many fronts for the mutual benefit of both countries and peoples.
On our part, we also need to think about the long term strategy of this relationship. We need to think of ways to improve it and build on the requirements to make it more effective. One way to do this is through education. Chinese can be taught in Malta to our students as English is taught to Chinese students. We will not reap the benefits of Chinese language classes immediately but I am sure that, in the long term, it will bring very important advantages for us and will give us that competitive edge.
Mr Agius is a Nationalist member of Parliament.