Malta and Serbia strengthened diplomatic and commercial ties with the signing of a double taxation agreement. The agreement was signed by Finance Minister, Tonio Fenech, and the Serbian Minister of Foreign Affairs, Vuk Jeremic. 

Dr Borg sees it as important for Malta and Serbia to work towards the enhancement of trade relations. In 2008, total trade was around EUR1.2m, a drop from just over EUR2m in the previous year. Trade is restricted to just a few items such as imports of cereals (50 per cent), printed material (25 per cent), rubber products, furniture and aircraft spare parts. Exports are made up of organic chemicals, pharmaceutical products and clothing

“Today a large number of Serbian citizens live and work in Malta and the establishment of a Maltese-Serbian friendship association could possibly increase the people to people contact in various fields of mutual interest in particular culture and the arts. There are some 2,000 to 3,000 Serbian nationals residing in Malta who have integrated well with the Maltese society and with their employment mainly in the construction and tourism sectors are also contributing towards the expansion of the Maltese economy.”

On his part, Mr Jeremic said that Serbia is increasing her efforts to follow Malta’s steps, such as joining the European Union and the euro zone. He emphasised that this is the commitment undertaken by the Serbian government.