The Malta Chamber of Commerce, Enterprise and Industry and The Malta Institute of Accountants have signed a memorandum of understanding, intended to provide a structure for collaboration between the two bodies in the future.

By virtue of the agreement, which was signed by Malta Chamber president Perit David Xuereb and Malta Institute of Accountants president William Spiteri Bailey, the two organisations agreed to co-operate actively in the interest of the Maltese economy and the upholding of business ethics and the promotion of best practice among members of both organisations.

Speaking at the signing, Xuereb said that the Malta Chamber was constantly seeking to strike agreements with reputable professional bodies in the interest of the Maltese economy where pooling of resources provides new synergies such as in the case of teaming up in the accounting profession. This agreement is one such way of securing a direct line of communication with one of the economy's most important professions.

Spiteri Bailey said that the co-operation agreement would actively see both organisations co-operate on matters of national economic policy of common interest to the business community and accounting profession.

The two organisations would in turn engage in a meaningful dialogue and seek to support each other's stands on key common issues.

The memorandum of understanding provides a platform for cooperation in matters in which either party has expertise. The two organisations also commit to co-operate towards facilitating the dissemination of information, opportunities in education and life-long learning for their membership bases.

On a reciprocal basis, the organisations promise to collaborate in joint projects that are aimed at supporting the business of members on both sides to grow and internationalise.

The agreement was also signed by Malta Chamber deputy president Marisa Xuereb and Malta Institute of Accountants vice president Fabio Axisa.