Malta's Deputy Prime Minister and Minister of Foreign Affairs, Hon. Dr. Tonio Borg and the Hon. Selso Amorim, Brazil’s Foreign Defence Minister held a number of meetings to advance bilateral relations, during Mr. Amorim’s visit to Malta in mid-May 2012.
The visit further strengthened the political, economic and cultural relations between the two countries. Issues such as an agreement for the avoidance of double taxation agreement and a waiver of the necessity of a visa to travel between the two states were discussed.
Brazil’s growing role in Latin America has given the country a leading role among its neighbours. To this end, Brazil has an ever increasing role in contributing tangible to the economic, political, social and cultural integration of the nations of Latin America.
In 2011, Malta imported more than €14 million worth of goods from Brazil, while it exported over €7 million to Brazil. Imports are mainly made up of sugar while exports include a considerable amount of electrical machinery. There are currently 23 companies with Brazilian shareholding registered with the Malta Financial Services Authority.
