The Maldives and Hong Kong is formulating an Independent Bussiness Agreement
The Deputy Economic Minister, Mr Adam Thaufeeq said The Maldives and Hong Kong is getting ready to sign a Free Trade Agreement also known as an Independent Business Agreement.
Deputy Economic Minister Mr Adam Thaufeeq was interviewed by PSM News programme “Raaje Miadhu”. He spoke about limiting the complications caused for the development of the economy and involve potential investors to decrease the dependency on the Tourism Industry in the Maldives.
Compared to other countries, The Maldives has a low productivity rate. During the International Fairs and Promotional Activities, an extreme interest is shown by the international market about the Maldivian products since the Maldives is a well-known Tourist Destination.
Mr Thaufeeq said this is an opportunity to sell Maldivian products in the International market by signing this trade agreement. We have invited countries interested to formulate trade agreements with the Maldives. In the nearing future, the trade agreement would be signed between Hong Kong.
The Maldives is now getting ready for an independent free trade agreement with Hong Kong, and a successful Discussions conducted by Hong Kong and the Maldives last January. Such an agreement could largely benefit the Maldives economically especially the Tourism Industry and improve the general productivity of the country.
China was first the Maldives signed with an independent free trade agreement which was held at the end of last year December.
