China has imported goods worth MVR 1.9 million under the newly implemented Free Trade Agreement (FTA) between the Maldives and China.
Signed in 2024, the FTA came into effect on January 1, 2025. Customs officials reported that between January 1 and 18, goods worth MVR 1.9 million were cleared under the agreement. The imports included nine air shipments valued at MVR 882,381, and sea shipments totaling MVR 1,040,875.
The Maldivian government has projected that the FTA will generate $1 billion in annual trade, with 91% of goods exempt from duty. Additionally, the agreement allows for payments in Maldivian Rupees for goods purchased from China, further strengthening the trade relationship between the two countries.
Signed in 2024, the FTA came into effect on January 1, 2025. Customs officials reported that between January 1 and 18, goods worth MVR 1.9 million were cleared under the agreement. The imports included nine air shipments valued at MVR 882,381, and sea shipments totaling MVR 1,040,875.
The Maldivian government has projected that the FTA will generate $1 billion in annual trade, with 91% of goods exempt from duty. Additionally, the agreement allows for payments in Maldivian Rupees for goods purchased from China, further strengthening the trade relationship between the two countries.
