The main street of Valletta is Republic street, a busy pedestrian zone leading down the middle of the Peninsula from the main gate down to Republic square, this is where many of the better shops are located, although it cannot quite compete with Sliema for clothing.
The best souvenir shop the least worthless trinkets etc. can be found at the Malta experience, but there are many other reasonable souvenir shops in Valletta. At the beginning of the Republic street there are several reasonable souvenir shops but prices are far cheaper if you walk 20 meters down South street turn left if you have the bus station behind you which crosses Republic street very soon after you have entered through the city gates.
The best bookshop of Malta is definitely the one formerly known as Sapienzas know Agenda Bookshop as of 2008 on Republic street but can be a bit more expensive.
There is a daily market selling cheap clothing in the parallel street to Republic street called Triq il-Merkanti, or Merchants street.
