Sri Lanka has increased duty on Maldivian fish products being imported into the country.
The products include smoked fish and various other ‘Maldives Fish’ products. Starting from 27 October, the import duty on these products have risen to 302 Sri Lankan Rupees, or MVR 25.25.
During a Parliamentary hearing, Minister of Fisheries Zaha Waheed had previously stated that no loss will be incurred to Maldivians in spite of this increase. She stated that Maldives focuses on exporting into larger markets at higher prices, and that the price at which Maldivian fish products sell in the Sri Lankan market is generally low.
The Fisheries Minister of Sri Lanka stated that this hike in import duty was to protect their domestic fisheries industry from foreign competition.
Maldives has been exporting fish products to the neighbouring country in spite of the ongoing COVID-19 pandemic.