An official delegation headed by Tonio Borg, Deputy Prime Minister and Minister of Foreign Affairs, Malta, has furthered the relationship between Malta and Libya and renewed the agreement for the avoidance of double taxation between the two states. The agreement confirms close relations that have always existed between the two countries and their keen interest to ensure the enhancement of business and commercial relations between them.

The convention will enter into force following ratification by both countries and once in force it will supersede the previous one signed on the 5th October, 1972. The purpose of the convention is to avoid double taxation and prevent fiscal evasion and further covers direct taxes on income and capital.