Chinese businesses and investors will be able to use Malta as a hub to expand their businesses in Europe and the Mediterranean through a new memorandum of understanding.
The memorandum was signed between Malta Enterprise deputy chairman John Scerri and International Investment Association of Shanghai president Huang Linsheng.
The discussions started in May when a Maltese business delegation visited the Chinese city and were sealed during a return visit late last month, Malta Enterprise said.
Under the agreement, the Maltese side will provide the office space while the association will employ up to four people to set up and manage a regional office.
The memorandum also lays the ground to increase cooperation and promote trade and investment between the two countries.
“The economic growth experienced by China is unprecedented and Malta is well positioned to benefit from this new economic power,” Malta Enterprise chairman Alan Camilleri said.
“This agreement is just the first initiative to lay the foundations for mutual collaboration between Shanghai and Malta and we hope to be able to sustain our efforts in other provinces and in Hong Kong.”
A number of key Chinese businessmen will visit Malta and Malta Enterprise will assist them with matchmaking and fact-finding meetings with interested parties.