Malta and China sign Medium-Term Cooperation Plan

China flag in VallettaThe Government of Malta and the Government of the China have signed a 5-year Medium-Term Cooperation Plan which will take the already well established cooperation between the two countries to another level.

This is the first formal Medium-Term Cooperation Plan that China signed with a European country.

Pursuant to the Cooperation Plan, Malta and China shall cooperate in the financial services sector and shall encourage financial institutions within their respective jurisdictions to operate in each other’s territories.

Malta and China will also make their best efforts to give full play to the mutually beneficial advantages created as a result of the Memoranda of Understanding entered into in January 2010 between the Malta Financial Services Authority on the one party, and the China Securities Regulatory Commission and China Banking Regulatory Commission on the other.

The Cooperation Plan also covers energy, infrastructure, civil aviation, research innovation and cultural cooperation, education, health, sport and people-to-people exchanges.