Backgrounder: Basic facts about Malta

II. Trade Relations and Economic-Technological Cooperation

(1) Trade Relations

Recent years have witnessed a rapid increase in the trade between Chinaand Malta. According to statistics from China's General Administration of Customs, the trade volume between Chinaand Maltain 2002 was US$ 295 million, 94.5% higher compared with the corresponding period of the previous year. The bilateral trade volume between January and April 2003 was US$ 84.54 million, 10.7% lower over the same period of the previous year, of which China's export totaled US$ 26.38 million and import US$ 58.13 million, a decrease of 40.7% and an increase of 16.0% respectively compared with the same period of the previous year.

(2) Economic-Technological Cooperation

Ever since the establishment of the diplomatic relations, the economic and technological cooperation between China and Malta on the whole has been: China provided Malta in 1972 a long-term interest free loan of 100 million yuan, facilitating the construction of 7 whole plants and 2 technological cooperation projects, of which the 300000-ton Dry Dock was the largest. In 1985, Chinahelped Maltabuild Marsaxokk Breakwater (funded by Malta), a project which has made great contribution over the years to the maintenance of Malta's free port. In April 1994, the two sides established the MediterraneanRegionalCenterfor Traditional Chinese Medicine. The project provides short and mid-term training courses and runs a traditional Chinese clinic. Premier Li Peng proposed to build a "ChinaGarden" for Maltafor free during the Maltese Prime Minister's visit to Chinain June 1994. Chinapresented 500 willow seedlings to Maltaas a gift. ChinaGardenwas completed in July 1997. Chinagave Malta3 million yuan assistance gratis respectively in the year of 1997, 1999, 2000, 2001 and 2002.