During an official visit to Malta by Micheline Calmy-Rey, Swiss Minister of Foreign Affairs, moods were formal but festive. The relationship between Malta and Switzerland was strengthened through the signing of the Agreement between Malta and Switzerland for the Avoidance of Double Taxation with respect to Taxes on Income. Maltese Minister of Foreign Affairs, Tonio Borg, hosted the Swiss delegation at the Foreign Affairs Ministry, Valletta, where the agreement was signed. The agreement will enter into force following ratification by both countries.

The purpose of this agreement is to avoid double taxation and prevent fiscal evasion. It also covers direct taxes on income and capital and enables both countries to exchange information for a more effective stand against tax evasion.