Malta and Singapore sign MoU on tech cooperation

Malta and Singapore signed a Memorandum of Understanding (MoU) for cooperation in the fields of emerging technologies and cybersecurity, according to a press statement issued by the Maltese government’s Department of Information (DOI).

The MoU was signed by Parliamentary Secretary for Financial Services, Digital Economy, and Innovation 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 for Foreign Affairs and Trade Promotion Carmelo Abela.

“It is an honour to see both countries ready to strengthen and develop their relationship through a Memorandum of Understanding. We look forward to sharing our internationally-recognised achievements in the blockchain, innovative technologies, and AI sectors based on the credibility and positive reputation to doing business,” said Mr Schembri.

“Malta and Singapore may be geographically distant, but we are united by our similarities,” said Minister Abela. “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,” the minister added.

“Today we have made 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,” said Anton Buttigieg, Chief Executive Officer of Trade Malta. “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,” he added.

A delegation comprising 60 representatives from Malta-based companies and Maltese agencies visited Singapore, right after another mission to South Korea, headed by Mr Schembri.

Both sector-focused missions focussed on promoting commercial opportunities in virtual currencies and innovative technologies, cybersecurity, digital games, and esports, and were organised by Trade Malta and the Ministry for Foreign Affairs and Trade Promotion, in collaboration with the Parliamentary Secretariat for Financial Services, Digital Economy and Innovation, and the Malta Chamber of Commerce, Enterprise, and Industry, according to the DOI press release.