The Maldives government has welcomed the recent statement by the UK government aiming to negotiate a free trade agreement (FTA) with the Republic of Maldives. On June 8th, 2023, the UK government announced an eight-week call for input from businesses, organizations, and individuals to help shape the UK's negotiating aims with the Maldives.
As one of the few Commonwealth countries that the UK has not yet pursued a FTA with, the Maldives has prioritized strengthening its economy and creating favorable market opportunities for local businesses. Negotiations between both governments have been ongoing in the past four years, aimed at eliminating the existing 20% tariff imposed on the Maldives' fish exports to the UK.
This step towards establishing a Free Trade Agreement between the Maldives and the United Kingdom is expected to bring about significant benefits for both countries. The Maldives government aims to gain preferential treatment for the goods traded to the UK and have unhindered access to its market by eliminating tariffs. This move is expected to enhance bilateral trade between the UK and Maldives, boosting economic growth and prosperity.
The Maldives government believes this trade agreement will lead to further economic cooperation between the Maldives and the UK. As the eight-week call for input commences, the Maldives looks forward to shaping the UK's negotiating aims and preparing for an FTA that will provide crucial market access and growth opportunities for both nations.
As one of the few Commonwealth countries that the UK has not yet pursued a FTA with, the Maldives has prioritized strengthening its economy and creating favorable market opportunities for local businesses. Negotiations between both governments have been ongoing in the past four years, aimed at eliminating the existing 20% tariff imposed on the Maldives' fish exports to the UK.
This step towards establishing a Free Trade Agreement between the Maldives and the United Kingdom is expected to bring about significant benefits for both countries. The Maldives government aims to gain preferential treatment for the goods traded to the UK and have unhindered access to its market by eliminating tariffs. This move is expected to enhance bilateral trade between the UK and Maldives, boosting economic growth and prosperity.
The Maldives government believes this trade agreement will lead to further economic cooperation between the Maldives and the UK. As the eight-week call for input commences, the Maldives looks forward to shaping the UK's negotiating aims and preparing for an FTA that will provide crucial market access and growth opportunities for both nations.
