- The Maldives Türkiye Preferential Trade Agreement takes effect today, covering 75 tariff lines at the six-digit HS level.
- It gives Maldivian fisheries exports preferential access to Türkiye's market of over 85 million consumers while offering local businesses cheaper Turkish goods.
- Signed on 4 November 2024, the deal follows 2023 talks between Presidents Muizzu and Erdoğan and aims to diversify import sources.
The Maldives Türkiye Preferential Trade Agreement takes effect today, creating a framework for lower-tariff trade between the two countries and expanding market access for Maldivian fisheries exports.
The agreement covers 75 tariff lines at the six-digit Harmonised System level. It gives Maldivian fisheries products preferential access to Türkiye, a market of more than 85 million consumers.
For the Maldives, the arrangement could improve the competitiveness of fisheries exports while giving local businesses access to a wider range of Turkish products, including essential commodities, under preferential tariff terms.
The Ministry of Economic Development, Transport and Trade said the agreement is intended to diversify import sources, support more reliable supply chains and encourage commercial partnerships between businesses in both countries.
The agreement was signed on 4 November 2024 by the trade ministers of the Maldives and Türkiye. It follows discussions between President Dr Mohamed Muizzu and Turkish President Recep Tayyip Erdoğan during Muizzu’s official visit to Türkiye in November 2023.
