The Free Trade Agreement (FTA) between the Maldives and China, which officially came into force on January 1, is set to bring wide-ranging benefits to the Maldivian people, according to the Chinese Ambassador to the Maldives, Kong Xianhua.
Speaking in an exclusive interview with PSM News, Ambassador Kong underscored the vast potential for Maldivian fish and seafood exports in the expansive Chinese market.
Prior to the agreement, Maldivian goods had little visibility in China, despite the country being one of the world’s largest seafood importers. Ambassador Kong noted that the FTA has already sparked growing demand, with Maldivian products beginning to build a brand presence in China.
"Business relationships are being established between the Maldivian and Chinese people. We will see a significant impact in the near future," he said.
The Ambassador stressed that access to the Chinese market would bring long-term benefits to Maldivians, predicting that the most notable impact will emerge within the next one to two years. He also confirmed ongoing collaboration with the Ministry of Economic Development and Trade to promote Maldivian goods in China.
A central feature of the FTA is the removal of tariffs on more than 90 percent of Maldivian exports, including almost all fish and seafood, granting duty-free access to the Chinese market. This was a key priority for President Dr. Mohamed Muizzu, who pushed to activate the long-delayed agreement.
Beyond fisheries, the FTA is expected to support exports and re-exports, opening doors for new enterprises and job creation in the Maldives. The government envisions growth in fish processing and the export of other local products under the agreement.
With access to China’s market of over 1.4 billion people, Maldivian businesses are projected to expand rapidly. The administration estimates that annual trade between the two nations could increase from around USD 700 million to USD 1 billion.
The agreement also covers investment protection and facilitation, potentially encouraging Chinese investments in areas such as seafood processing and aquaculture. Additionally, it offers Maldivian service providers and entrepreneurs opportunities to enter and expand in the Chinese market.
