Insular contribution to formal talks (5)

I believe the answer is:

malta

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'insular contribution to formal talks' is the definition.
I can't tell whether this defines the answer.

'contribution to formal talks' is the wordplay.
'contribution to' indicates a hidden word.
'MALTA' can be found hidden inside 'formal talks'.

Can you help me to learn more?

(Other definitions for malta that I've seen before include "Island nation" , "A Med. island" , "defiant island in WW2" , "Mediterranean island state" , "Mediterranean island awarded the George Cross" .)

I've seen this clue in the Evening Standard.

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