Reduction of duty is important for fish exporters

A MIFCO fish factory

Deducting duty taken from export items would increase the exporter’s income, states the Acting Managing Director of Maldives Industrial Fisheries Company Limited (MIFCO), Mr. Ismail Fauzee.

Mr. Ismail Fauzee further stated that MIFCO is always trying to maintain a close relationship with the fishermen of Maldives. He explained that they are trying to get a reasonable amount of income after processing and exporting fish sold to them by the fishermen. As per Mr. Fauzee, the main issue faced by the MIFCO is the low price of raw fish in the international market.

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During the function held to celebrate Fishermen’s day 2018, President Solih stated that since there is a 22% duty in exporting the products to the European market, it affects the Maldivian economy in various aspects. He further clarified that the government has been trying to solve this issue by discussing the matter with England and European Union by trying to come in terms with them.

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