Insights

Malta and Saudi Arabia recently signed a cooperation agreement in the field of maritime transport. The cooperation agreement encourages increased collaboration to develop movement of commercial vessels between Malta and Saudi Arabia, facilitate the transport of goods and persons, as well as economic and trade relations between them. It also seeks better coordination of commercial maritime traffic between the two countries, as well as information exchange, common positions in international organisations and fora relating to maritime transport and technical and training cooperation. The agreement, signed by the Malta Minister of Transport, Mr. Joe Mizzi and his Saudi counterpart, HE. Mr Suleiman bin Abdullah Al Hamdan, builds on the good relations between the two countries and the double taxation agreement between the two countries, which also regulates profits from the operation of ships or aircraft in international traffic as defined by the agreement. (LN 25 of 2013). Double taxation relief agreements have also been signed and ratified with several other countries (For texts of treaties see MFSA website).