Malta and Serbian signed contract on avoidance of double taxation

Ministers of foreign affairs of Malta and Serbia, Tonio Borg and Vuk Jeremić, signed the agreement in Valeta today (September 9, 2009) on avoidance of double taxation.

After the talks with Jeremić, Minister Borg invited Serbian leaders to work on bringing Serbia closer to European Union, and he expressed the hope that the agreement on taxation would enable better cooperation between the two countries and growth of trade exchange and investments.

Borg said that the value of total exchange of goods between Malta and Serbia in 2008 amounted to 1.2m EUR, which is significantly less than in 2007 when it exceeded 2m EUR.

The subjects of trade exchange between Malta and Serbia are mainly cereals, printed material, furniture and airplane parts.

Borg said that he hoped for improvement of cooperation in field of investments, culture, and English language teaching, and he pointed out that the Embassy of Spain to Belgrade, which represented the interests of Malta, had received 300 visa applications in 2009 from the citizens interested in visiting Malta.

About 3,000 citizens of Serbia are currently living on Malta.

During his stay in Malta, Jeremić also spoke to President George Abel, Prime Minister Lorence Gonzi, and Louise Gale, the President of the Parliament.