The Deputy Prime Minister of Malta, Ian Borg, concluded a two-day working visit to the Principality aimed at strengthening ties between the two Mediterranean microstates, which share long-standing diplomatic, economic and maritime interests…
Although diplomatic relations were formally established in 2007, Monaco and Malta have maintained close links since the 1950s and meet regularly within multilateral forums. During meetings with Monegasque officials, discussions focused on economic development, tourism, and maritime industries, reflecting the shared coastal identity of both countries. Yachting, port services and high-end tourism were highlighted as key areas where cooperation could be further developed, particularly in promoting premium and sustainable tourism models in the Mediterranean.
This was the first visit to Monaco by a Maltese Deputy Prime Minister, underlining the importance both sides place on deepening bilateral dialogue. Existing economic links were also noted, including investments by Monaco-based companies in Malta, most notably Monaco Telecom, which operates in the country’s telecommunications sector.
A significant outcome of the visit was the signing of an amendment to the double taxation agreement initially concluded in 2018. The update reflects new international standards introduced by the OECD, particularly measures linked to the BEPS framework, which seeks to limit aggressive tax optimisation strategies and ensure fairer tax competition between states.
The visit concluded at the Minister of State’s residence, where a reception brought together members of both delegations, marking the end of what officials described as a productive and forward-looking exchange, with several avenues for future cooperation now under consideration.
Image: Ian Borg Facebook
