Kathmandu, October 25
The High Commission of Malta for the region based in Delhi has been mulling over business to business engagements between Nepal and Malta as business people in Malta are keen to make foreign investments.
Talking to journalists, following the submission of the credentials to President Bidhya Devi Bhandari, today, Ambassador of Malta to Nepal, India, Bangladesh and Sri Lanka Stephen Borg, said that Nepal has the potential to attract investments from Malta mainly in developing skills of people, education, tourism and information technology.
The ambassador further said that the trade relations between Nepal and Malta can be further strengthened in the future as Malta has been strengthening its manufacturing base and Nepal has the potential to export organic and high-value agriculture products and crafts to Malta.
Similarly, there is potential for investment in the hospitality sector and information technology, according to Ambassador Borg.
Malta, a small European country with a population of 420,000, welcomed 2.2 million tourists in 2017. Ambassador Borg further stated that as a European Union member, the rules of the European Union on trade and investment are applicable in Malta. He also said that business to business meetings between business people of Nepal and Malta will be arranged in the near future.
The ambassador further mentioned that a bilateral pact on investment protection and double taxation avoidance can be signed to intensify the trade and investment relations between the two nations.
A version of this article appears in print on October 26, 2018 of The Himalayan Times.