The Maldives’ Preferential Trade Agreement (PTA) with Türkiye is expected to come into force within the next two months, according to state media, following confirmation from the Minister of Economic Development and Trade, Mohamed Saeed. The arrangement, signed on 4 November 2024, aims to strengthen bilateral trade ties between the two countries.
The PTA will take effect once it is endorsed by the Turkish Parliament, a step the minister indicated is anticipated in the coming weeks. The agreement was finalised during President Dr Mohamed Muizzu’s official visit to Türkiye last year, where discussions with Turkish President Recep Tayyip Erdogan focused on deepening economic cooperation. Talks covered areas including trade, investment, renewable energy, and higher education.
Under the agreement, fish exports from the Maldives to Türkiye will be eased, while tariffs and other trade barriers will be reduced. This is expected to create opportunities for Maldivian exporters to expand their presence in the Turkish market. The PTA is also set to facilitate greater access to Turkish goods for Maldivian businesses and consumers at reduced prices.
The development follows the enforcement of the Maldives–China Free Trade Agreement on 1 January this year. The government is also pursuing similar trade agreements with India, the UAE, Sri Lanka, and Saudi Arabia as part of efforts to broaden international market access and enhance economic partnerships.
