Statistics from January to July 2010 show that imports from Switzerland amounted to 72 million euros (mainly pharmaceuticals, 91.2 million euros in the same period in 2009, while Malta`s exports increased to 9.3 million euros (mainly machinery and pharmaceuticals) compared to 5.7 million euros in the first half of 2009. The agreement will enter into force after ratification by both countries. The main provisions of the new double taxation agreement between Switzerland and China are those that affect the reduced rates collected in both countries: dividends and royalties. Under the agreement, Swiss companies investing in China will benefit from new reduced dividend rates: the protocol has become necessary to appease the European Commission, which had considered that the agreement could be contrary to the European Treaty. By threatening to refer the matter to the European Court of Justice, the United Kingdom and Switzerland have agreed that account holders who have already paid the 35% withholding tax due under the European Savings Tax will be subject to a final withholding tax of 13% in order to reduce the tax debt on interest payments. No withholding tax is applied on royalties paid to foreign beneficiaries. On 13 March 2009, the Federal Council announced that, in accordance with Article 26 of the OECD Model Tax Convention, Switzerland intends to adopt OECD standards for administrative assistance in tax matters. The decision allows the exchange of information with other countries in individual cases where a concrete and reasoned request has been made. The Federal Council has decided to withdraw the reserve for the OECD`s model tax treaty and to begin negotiations on the revision of double taxation conventions. However, Swiss banking secrecy remains intact. Some of the countries that have double taxation agreements with Switzerland are: the Federal Council`s decision is implemented within the framework of bilateral double taxation conventions.