The Free Trade Agreement (FTA) between the Maldives and Turkey, signed earlier this month, is set to come into effect between January and March next year, according to Economic Minister Mohamed Saeed.
Launched during President Dr. Mohamed Muizzu’s official visit to Turkey in November 2023, the agreement aims to strengthen economic ties between the two nations.
Minister Saeed highlighted that the FTA will allow a wide range of Turkish imports to enter the Maldives duty-free, providing significant benefits for investors, resort developers, and local businesses.
“This agreement will offer a major boost to our economy, facilitating trade and creating new opportunities for businesses,” the minister said.
In addition to the Turkey FTA, the government has also decided to implement the Free Trade Agreement with China, initially signed during former President Abdulla Yameen’s administration but left unimplemented by the previous government. The China FTA is scheduled to come into force in January 2025, further diversifying the Maldives' international trade partnerships.
These agreements represent key steps in the government’s strategy to expand economic opportunities, attract investments, and strengthen the Maldives’ position in global trade.
Launched during President Dr. Mohamed Muizzu’s official visit to Turkey in November 2023, the agreement aims to strengthen economic ties between the two nations.
Minister Saeed highlighted that the FTA will allow a wide range of Turkish imports to enter the Maldives duty-free, providing significant benefits for investors, resort developers, and local businesses.
“This agreement will offer a major boost to our economy, facilitating trade and creating new opportunities for businesses,” the minister said.
In addition to the Turkey FTA, the government has also decided to implement the Free Trade Agreement with China, initially signed during former President Abdulla Yameen’s administration but left unimplemented by the previous government. The China FTA is scheduled to come into force in January 2025, further diversifying the Maldives' international trade partnerships.
These agreements represent key steps in the government’s strategy to expand economic opportunities, attract investments, and strengthen the Maldives’ position in global trade.
