The Maldives-China Free Trade Agreement (FTA) is set to come into effect on January 1, 2025, the government announced during a ceremony held on Monday.
The event was attended by Chinese Commerce Minister Wang Wentao and Maldivian Minister of Economic Development and Trade Mohamed Saeed.
During the ceremony, Minister Saeed stated that the agreement would reduce the cost of goods imported from China to the Maldives, benefiting consumers and businesses alike. He noted that it would also provide Maldivian entrepreneurs with significant opportunities to expand their presence in the Chinese market, fostering unprecedented economic growth in the Maldives.
Chinese Commerce Minister Wang Wentao highlighted the FTA’s role in strengthening bilateral relations between the two nations. He announced that the agreement would allow Maldivian fish exports to China to benefit from zero tariffs, offering a major boost to the Maldives’ fisheries sector.
The Maldives-China Free Trade Agreement was initially signed in 2014 and approved by the Maldivian Parliament in 2017. However, its implementation was delayed due to a change in government.
With the agreement now scheduled to take effect, it is expected to enhance trade cooperation and deepen economic ties between the Maldives and China, marking a significant milestone in their partnership.
The event was attended by Chinese Commerce Minister Wang Wentao and Maldivian Minister of Economic Development and Trade Mohamed Saeed.
During the ceremony, Minister Saeed stated that the agreement would reduce the cost of goods imported from China to the Maldives, benefiting consumers and businesses alike. He noted that it would also provide Maldivian entrepreneurs with significant opportunities to expand their presence in the Chinese market, fostering unprecedented economic growth in the Maldives.
Chinese Commerce Minister Wang Wentao highlighted the FTA’s role in strengthening bilateral relations between the two nations. He announced that the agreement would allow Maldivian fish exports to China to benefit from zero tariffs, offering a major boost to the Maldives’ fisheries sector.
The Maldives-China Free Trade Agreement was initially signed in 2014 and approved by the Maldivian Parliament in 2017. However, its implementation was delayed due to a change in government.
With the agreement now scheduled to take effect, it is expected to enhance trade cooperation and deepen economic ties between the Maldives and China, marking a significant milestone in their partnership.
