Ministry of Economic Development has announced that import, export and re-export license will not be required starting from this Monday as per the new amendment brought to the import, export and re-export regulation.
The new amendment to the regulation states that for the products produced within the Maldives to be exported and for importing products, it is compulsory to get registered in Maldives Customs Services accordingly. The company registration regulation states that all the companies registered in the Ministry of Economic Development can get registered in Maldives Customs Service in order to import, export and re-export products.
The regulation further states that re-exporting is only allowed for those registered under Ministry of Economic Development having agreements with the ministry. With the efforts of the government to ease trade within the country, the economic ministry also had a meeting with businesses to discuss the difficulties faced by businesses.
