Malta is a small island in the Mediterranean Sea between Europe and Africa. Malta is an EU member and ratified CETA in 2017.
In 2018, Canadian exports to Malta were 111.8 million, while imports from Malta totaled 35.9 million.
Eu-Canada Comprehensive Economic and Trade Agreement (Ceta)
The recently signed EU-Canada free trade agreement (CETA) is projected to help Maltese businesses by eliminating customs tariffs for local exporters and importers, expanding the Canadian market for Maltese businesses, and allowing them to compete for more public contracts in Canada. The new agreement is expected to boost investment by making it simpler for Maltese experts to work in Canada and encouraging local SMEs to expand into new international markets.
Outside of the EU, Canada is Malta’s seventh-largest goods export market. CETA will result in significant customs duty savings by abolishing tariffs on 99 percent of all tariff lines, with 98 percent already abolished at the time of entry into force. The removal of tariffs on practically all of Malta’s exports, particularly pharmaceuticals, industrial and electrical equipment, and chemicals, will benefit the country.
Outside of the EU, Canada is currently Malta’s largest market for services exports. Financial, transportation, and tourism services are Malta’s key services exports to Canada. Maltese enterprises will gain access to Canada’s enormous public procurement market as a result of CETA. Maltese businesses will be able to bid on bids for goods and services at all levels of government in Canada (federal, provincial and municipal).
US – Malta
Following Malta’s independence in 1964, the two countries established full diplomatic ties. The administration maintains close ties with the US and is a key partner in regional issues concerning North Africa and Europe. Malta currently hosts the International Institute for Justice and the Rule of Law, which is co-sponsored by the United States and has been a key player in the fight against transnational crime in the Mediterranean, most recently through the United States-Malta partnership on the Central Mediterranean Security Initiative. During the upheaval in Libya that began in February 2011, Malta played a critical role in assisting third-country nationals, especially Americans, in fleeing the country.
The United States has been a strong supporter of Malta’s efforts to encourage private investment, and American corporations do business there. Major hotels, light manufacturing and repair facilities, commercial banknote printing facilities, healthcare administration, pharmaceutical, and medical supply corporations, and offices serving local and regional activities are among these businesses. To strengthen trade ties, the US and Malta negotiated a double taxation agreement in 2008, which went into effect in 2011. In 2008, Malta became a member of the Visa Waiver Program. This program permits citizens of specified nations to visit the United States without a visa for up to 90 days for tourism or business purposes.
