Cabinet of the Maldives have passed to sign a free trade agreement with China.
Speaking to the press at the President’s Office, Economic Minister Saeed said that the fishermen of the Maldives will benefit the most from this agreement. “From the day we sign the agreement, fish can be exported to China with 0 percent duty. Also it will open the chance to bring fish products from other countries and then re-export it as value added products” said the minister.
In addition he said that they are working to establish a free trade agreement with Hong Kong as well and they have invited other countries including USA, Japan, EU and UK to establish such agreements with Maldives. “We invited many countries and hope to start negotiations soon” said the minister.
He said that even though Maldives has a very small consumer market compared to China, China has accepted it and this agreement will benefit Maldives the most.
Furthermore, he said that this agreement will benefit all industries of Maldives including tourist, aviation, and construction industry.
“Once the airport development project is completed, more than 200 flights will land per day. This will allow easy export of fish to all over the world” said the minister.
The negotiations with China began three years ago. The agreement can officially be signed after completing the necessary legal procedures.
Miadhu News have learned that the agreement will be signed at a ceremony held in China where President of China and President of Maldives will take part.
Cabinet passes to sign a free trade agreement with China
