Maltese Foreign Minister Michael Frendo and H.E. Dr. Mohammed Khirbash, Minister of State for Finance and Industry of United Arab Emirates have signed an Agreement for the Avoidance of Double Taxation.
The signing ceremony took place at the Ministry of Finance and Industry in Abu Dhabi last week after bilateral talks between Minister Michael Frendo and Minister Khirbash.
“We are very happy to sign this Avoidance of Double Taxation Agreement with the Emirates” commented Minister Frendo after the signing ceremony, “because this strengthens the framework for increased trade, investment and business opportunities between the two countries.”
Malta has a network of around 45 similar agreements with other countries on the avoidance of double taxation and prevention of fiscal evasion. Currently, another fifteen Double Taxation Agreements are being negotiated.
Earlier, Minister Michael Frendo met his counterpart, H.E. Mohammed Hussein al Shaari, Minister of State of Foreign Affairs of the United Arab Emirates for bilateral talks at the Ministry of Foreign Affairs in Abu Dhabi.
Commenting after the meeting, Minister Michael Frendo noted that: “The Maltese people have a high level of respect for the Emirates and for their achievements” adding that “in the context of the strong relations and increasing cooperation between the two countries, Malta and the UAE will be looking at ways to facilitate the movement of people between the two countries with a view of increased tourism and business activities."
The two parties also agreed that on-going discussions between the European Union and the Gulf Countries Council (GCC) for the creation of an EU-GCC Free Trade Zone should be brought to a swift conclusion and an agreement struck.
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