A high-powered 12-member delegation represented Malta in the 2nd Maltese-Saudi Joint Commission, which ended its three-day meeting in Riyadh last week.
The two sides were set to sign a memorandum of understanding on various sectors, Maltese Ambassador Martin Valentino told Arab News prior to the meeting on Wednesday night.
Chris Cardona, minister for economy, investment and small business, led the Maltese side while Yousef Al-Saadoun, deputy minister for economic and cultural affairs, represented the Kingdom at the meeting.
Mr Valentino said that the MoU included collaboration between the two countries in health care, education, transport, tourism, trade and investment, among others.
"The two countries will also start negotiations on maritime cooperation that includes transportation, servicing and technical aspects of the collaboration," the Maltese envoy said.
Minister Cardona, on the other hand, said: "It's my first visit to the Kingdom and I have been impressed by what I've seen and the meetings we have had with Saudi partners."
He added that the 2nd Maltese-Saudi Joint Commission meeting took up what had been discussed when the two sides first met in Valetta, in April 2013.
"There is room for synergy between the two countries. They have advantages which could be maximized for our mutual benefits," he said during a reception hosted by the Maltese envoy at his residence.
He said that before the signing of the MoU, the joint commission already had a "kind of a road map and have a joint council and the people who will do the practical side of what has been already agreed between the two countries."
"We're going to lay the foundation - the platform - and have the private enterprise to do business," he said, adding that the sectors agreed upon had earlier been identified during the first meeting in Valetta. There have also been technical experts coming to Saudi Arabia for discussion.
"In the health sector, for instance, a member of my delegation visited the Kingdom a couple of times in the past to discuss and negotiate," he said.
Stefania Fabri, a member of the delegation, was part of the team of University of Malta Rector Juanito Camilleri who visited last April to discuss collaboration with the King Khaled University in Abha.
On the other hand, John Buttigieg of Malta Enterprise said that his country is a haven for Saudis who wish to invest, adding that the Mediterranean country has a robust economy.
"Besides, Malta is strategically located. It's a gateway for visitors from Saudi Arabia to other parts of Europe," he said.
John Mary Attard from the Malta Tourism Authority added that Malta also boasts of veritable tourist attractions like Saudi Arabia. During their three-day visit, the delegation visited Diriyah, the old Riyadh.
Other members of the visiting delegation included Mario Azzopardi from the Ministry of the Economy, Investment, and Small Business; Adrian Said and Stanley Mifsud, Malta Government Investments Ltd; Antoinette Calleja, Ministry of Health; Louis Aquilina, Malta College of Arts, Science and Technology; Stefania Fabri and Anton Bartolo of University of Malta; and Jerome Spiteri, Malta Enterprise.