Short answers, pulled from the story.
The main purpose of the Malta Summit was to provide the two superpowers with an opportunity to discuss rapid changes taking place in Europe. The summit marked the lessening of tensions that were the hallmark of that era for four decades.
No agreements were signed at the Malta Summit during the meeting held on the 2nd of the 3rd of December 1989. The event signaled a major turning point in East-West relations even if no formal treaties were produced.
The meetings ultimately took place aboard Maksim Gorkiy, a Soviet cruise ship chartered to West German tour company Phoenix Reisen. These ships anchored in a roadstead near the Maltese village of Marsaxlokk due to stormy weather and choppy seas.
US President George Bush led the American team while Marshal of the Soviet Union Sergei Akhromeyev served as military affairs adviser to Gorbachev during the talks. James Baker led the U.S. Secretary of State team and Eduard Shevardnadze appeared as Soviet Foreign Minister.
The choice of venue was inspired largely by President Bush's fascination with World War II President Franklin D. Roosevelt's habit of meeting foreign leaders on board naval vessels. Malta declared its neutrality between the two superpowers in 1980 following the closure of British military bases.