Minister of Economic Development, Transport and Trade
Mohamed Saeed has said that Maldives Turkiye Preferential Trade Aggreement allows tariff concessions across 75 tariff lines, opening enhanced market access for Maldivian Fisheries exports to a market of over 85 million consumers.
Minister made the comment to mark the coming into effect of the agreement.
The Maldives–Türkiye Preferential Trade Agreement has officially entered into force today 1st of August 2026, marking a major milestone in the economic and trade partnership between the two countries.
The Ministry of Economic Development, Transport and Trade announced that the agreement became effective on the 1st of August 2026, strengthening bilateral cooperation and opening new opportunities for trade, investment and business development.
The Ministry stated that the agreement reflects the growing economic partnership between the Maldives and Türkiye and builds on the momentum created by President Dr Mohamed Muizzu's official visit to Türkiye from the 26th to the 29th of November 2023.
During the visit, President Dr Mohamed Muizzu and Turkish President Recep Tayyip Erdoğan reaffirmed their shared vision of expanding cooperation in a wide range of sectors, including trade, tourism, investment and economic development. The implementation of the agreement is expected to translate that vision into concrete economic cooperation between the two countries.
The Maldives–Türkiye Preferential Trade Agreement was signed on the 4th of November 2024 by the Minister of Economic Development, Transport and Trade of the Maldives and the Minister of Trade of Türkiye. The agreement establishes a framework for preferential market access between the two countries, aimed at facilitating bilateral trade, promoting greater business-to-business engagement and creating new commercial opportunities for enterprises in both nations.
Under the agreement, the Maldives and Türkiye have exchanged preferential tariff concessions covering 75 tariff lines at the six-digit level of the Harmonized System. The Ministry said the arrangement provides enhanced preferential market access for Maldivian fisheries exports to Türkiye, strengthening the competitiveness of one of the Maldives' largest export industries in a market of more than 85 million consumers.
The agreement also enables Maldivian businesses to import a wider range of Turkish products, including essential commodities, under preferential tariff arrangements. According to the Ministry, these concessions are expected to diversify import sources, strengthen supply chain resilience, enhance price competitiveness, support export growth, promote industrial development and foster stronger commercial partnerships between the private sectors of both countries.
The Ministry noted that the entry into force of the agreement marks a new chapter in Maldives–Türkiye economic relations, underscoring the commitment of both countries to expand trade and investment while creating new opportunities for sustainable economic growth and shared prosperity.
It added that the agreement also reflects the continued commitment of both nations to pursue mutually beneficial international trade partnerships that expand market access for exporters, secure reliable access to essential commodities, strengthen economic resilience and support sustainable and inclusive economic development.
