Malta and Singapore have signed a Memorandum of Understanding for cooperation in the field of emerging technologies and cybersecurity at the 2019 Singapore-Malta Business Forum.
The MoU was signed by Parliamentary Secretary Silvio Schembri on behalf of Malta, and Senior Minister of State at the Ministry of Transport and the Ministry of Communications and Information, Janil Puthucheary, on behalf of Singapore, in the presence of Minister Carmelo Abela.
Minister Carmelo Abela remarked that the Maltese economy offers international entrepreneurs and stakeholders a myriad of opportunities including, following recent developments, in the blockchain and distributed ledger technologies sector. He said that the longstanding ties between Malta and Singapore had grown from strength to strength since the establishment of diplomatic relations in 1988.
“Malta and Singapore may be geographically distant, but we are united by our similarities,” he said. “We are both island states with small domestic markets and an important export sector. Being a strategic regional gateway, Malta can be used as a platform to European and North African markets. On the other hand, Singapore is increasingly assuming the role of a strategic gateway to Asia and Australasia."
"Moreover, we are both former British colonies, and both members of the Commonwealth of Nations and of the Asia-Europe Meeting (ASEM). All this shows there is ample scope for further cooperation between our two countries. Areas of mutual interest such as trade, maritime affairs, and education are obvious, but we can explore and look beyond this too.”
Trade Malta’s Chief Executive Officer, Anton Buttigieg, added that this was another significant step forward to further enhance the economic and commercial relationship between Singapore and Malta. “Singapore is an important Asian hub for financial services, maritime affairs, logistics, and the digital economy. The Business Forum and the B2B networking session have helped to continue strengthening Malta’s reputation as an ideal partner in Europe and in the Mediterranean.”