Better trade relations between Malta and Russia

A Maltese educational institution signed an agreement with one of the largest Russian universities, which will lead to 300 students from Russia to continue their studies in Malta in 2018.

The signing took place at the Moscow World Trade Centre, in the presence of Prime Minister Joseph Muscat who is on an official visit in Russia. In the same building, the Prime Minister addressed a business forum organised by Trade Malta and the Chamber of Commerce and Industry of the Russian Federation.

The agreement between the Domain Academy and the National Research University came into force when in recent months, the Russian University started looking to offer high-level courses in Europe. The choice fell on Malta due both to the stability of our country, as well as Malta being a centre of excellence in education.

While he was addressing the business forum between Malta and Russia, the Prime Minister said that the Maltese Government must take the relations between Malta and Russia onto another level. The fact that this forum is happening shows that both sides should strengthen trade relations.

Dr Muscat said that this is the first meeting between a Maltese and Russian Prime Minister in the last 24 years, and this is in itself is actually disappointing given that both countries have much to offer each other.

The Prime Minister said that the Maltese economy is growing at a much faster pace than the EU. He mentioned several areas in which Malta is attracting investment, including in the aircraft repair area, education, information technology, and health and manufacturing sector. Dr Muscat also mentioned the advantage of Malta being in the euro area and having access to the single market. He also referred to the investment being made in the logistics sector and said it offers great potential for Russian investors.

Dr Muscat also mentioned that in recent years the government reformed the sectors of health and education which today attracts people who want to partake of medical and educational services in Malta. He added that in recent years the Maltese economy has expanded into new areas including through the Citizenship Programme.

The Business Forum was also addressed by the President of the Maltese Chamber of Commerce, who spoke of many economic sectors, including the financial sector iGaming, and said that this sector has experienced significant growth in recent years.

The Maltese delegation which participated in the Forum was made up of a number of Maltese businessmen who had the opportunity to meet with Russian businesses during the day. The Minister for European Affairs and Implementation of the Electoral Manifesto, together with the Minister for Foreign Affairs are accompanying the Prime Minister on this official visit.