Tonio Borg in Saudi Arabia for bilateral talks

Foreign Affairs Minister in Saudi Arabia to sign agreements against illicit trafficking of drugs and organised crime, and avoidance of double taxation.

2 January 2012, 12:00am

1 min read

Deputy Prime Minister and minister for foreign affairs Tonio Borg has travelled to Riyadh, capital city of Saudi Arabia this afternoon for bilateral talks.

Borg will be meeting Prince Saud bin Faisal bin Abdul-Aziz Al Saud tomorrow to sign the ‘Cooperation agreement on the fight against illicit trafficking in narcotic drugs and psychotropic substances and against organised crime’ between the two countries.

A double-taxation agreement will also be signed between the two countries.

Saudi Arabia is the largest member of the Gulf Cooperation Council with the most power and oil-based economy.

It possesses more than 20% of the world's proven petroleum reserves and is the largest exporter of petroleum.

The petroleum sector accounts for roughly 80% of budget revenues, 45% of Gross Domestic Product and 90% of export earnings.

There are currently 10 companies registered with the MFSA with Saudi Arabian shareholding.

Trade between the two countries is on an uptrend in Malta’s favour by a very wide margin. Imports are largely made up of plastics and articles (66%), and products of the milling industry (29%).

Exports also have a limited base although values are much higher. The major product categories are printed books (45%), preparations of cereals (24%), and miscellaneous edible preparations (24%). In 2008, Malta exported €15.3 million worth of goods to Saudi Arabia, while imports marked €1.5 million.

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Hope Tonio would ask for a "Platt habbaziz" and Lakumja for desert.

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We commoners has been advised to exercise caution in our expenditure. Dr Tonio Borg travels to Saudi (first class) to sign two agreements which fall under the responsibility of other Ministries. Wouldn't it have been cheaper for our Ambassador in Riyadh to sign these agreements unless Dr Borg's visit to Riyadh has some other hidden agenda. As far as I know anyone caught trafficking drugs in Saudi is given special treatment in chop chop square so what is the use of such an agreement?