The implementation of the Free Trade Agreement (FTA) between China and Maldives, as disclosed by President Dr. Mohammed Muizzu during the Maldives Business Forum in Fujian Province, is set to be implemented without delay.
Addressing around 300 participants, President Dr. Muizzu emphasised Maldives’ commitment to robust partnerships for development. He expressed confidence in China becoming Maldives’ primary development ally.
The President highlighted the significance of Maldives being the first South Asian country to sign an FTA with China, highlighting the strength of their trade relationship.
The FTA aims to boost trade, particularly in fish exports to China. President Dr. Muizzu affirmed the government’s readiness to implement the agreement. He outlined the role of the recently established Maldives Industrial Freezone Company, focusing on re-export, transhipment, food security, fish exports, and regional development investments.
The FTA, signed on December 18, 2014, during former President Yameen’s China visit, secured approval from the PPP/MDA coalition majority on November 29. However, a recent government shift has prompted a review of the agreement.