NEWS | Wednesday, 04 June 2008

Malta discusses bilateral agreement with Russia

Removal of double taxation, new consulate on the cards

Answering a question forwarded by Labour MP Leo Brincat in Parliament, last week Deputy Prime Minister and Minister for Foreign Affairs Tonio Borg revealed government plans for a bilateral agreement with Russia expected to levy double taxation, among others.
“The Maltese Government is pursuing its efforts in strengthening relationships with Russia, especially within the context of Dmitry Medvedev’s appointment as President,” Borg said.
“Government aims to imminently conclude plans for a bilateral agreement for the removal of double taxation, as well as for the protection and promotion of investments. These two proposals shall facilitate and motivate investment between the two countries,” he said, adding that discussions on the battle against organised crime are also ongoing.
“In view of the number of Russian citizens visiting our country every year,” Borg added, “the Maltese government is also working on setting up a new Consulate in St Petersburg, with the aim of facilitating Russian holiday and study visits to Malta.”
These areas of co-operation will in fact be discussed during a visit Russian Deputy Minister for Foreign Affairs is due to pay in Malta tomorrow.