Over 25 business people and professionals will accompany the President on his state visit to Qatar next week, somewhat of a record for this time of the year, according to Foreign Ministry spokesman Melvyn Mangion.

Malta's relations with the Gulf state are at embryonic stage and up to five bilateral agreements could be signed during the visit on August 28 and 29, including double taxation and air services agreements, Mr Mangion told The Times Business.

The President will be accompanied by Deputy Prime Minister and Foreign Minister Tonio Borg, who initiated the practice for a business delegation to be attached to state visits.

Malta Enterprise chairman Alan Camilleri, Malta Chamber of Commerce, Enterprise and Industry internationalisation official Peter Grima, GRTU director general Vince Farrugia and president Paul Abela will lead the trade mission.

Participants represent firms involved in project management, captive insurance, training and advisory services, manufacturers, security, tertiary education, healthcare, design, and aviation. Professionals include lawyers, dentists and accountants.

Discussions over the air services agreement featured in the Gulf press in July.

Asked what the agreement provided for, the Ministry for Infrastructure, Transport and Communications told The Times Business last month: "The agreement initialled between Malta and Qatar will permit a designated carrier from either party to operate air services between the two countries without any restrictions on the number of frequencies or aircraft type, as well as enter into code-share arrangements. Intermediate points and points beyond Malta and Qatar can be also operated at the discretion of the respective aeronautical authorities."

Qatar is one of the smaller states within the Gulf Cooperation Council but is one of the world's fastest growing economies. Boasting the second largest gas reserves in the world, the state is a key strategic energy supplier to major countries.

In recent years, the government has worked to diversify income resources and develop its economic infrastructure in which over $130 billion will be invested over the next few years. Oil and gas exploration projects were expanded and numerous incentives to foreign organisations were offered in this sector.

At $101,000, Qatar scores high in the GDP per capita income stakes. Its record nominal GDP growth will average 25 per cent over the next five years.

Its main trade partners are the US, Italy, France, Germany, Japan, South Korea, Singapore, India, Thailand, the United Arab Emirates, and Saudi Arabia. Malta's resident ambassador to Saudi Arabia is accredited to Qatar.

This year, business delegations travelled to the Ukraine, Portugal and Poland. In the past 12 months, double taxation agreements have been signed with Ireland, Libya, Serbia, Jordan, Lebanon, Switzerland and the US. Malta now has over 50 tax agreements in place.