The Cabinet has given a go-ahead for the China-Maldives free trade agreement.
The announcement was made during a press conference held at President’s Office this Wednesday afternoon.
During a press conference held at the President’s office today afternoon, Minister of Economic Development, Mohamed Saeed, on behalf of the cabinet made the announcement.
Speaking at the press conference, Minister Saeed said the government commenced discussions on a free trade agreement with China in the year 2014 after Maldives went from a least developed country to a developing country in 2011 and export duties were levied on the fish exports from the Maldives.
“To find a solution to the increase in export expenses, President Yameen has made the decision to arrange for fish to be exported at the lowest price possible,”
Said Minister Saeed.
Minister Saeed said that the most benefits out of this agreement would be received by the local fishermen. He also stressed on the benefits this will bring forth for the tourism industry.
Minister Saeed also said the Maldivian government was open to free trade agreements with more countries, mentioned that countries such as Japan has given a green light for the commencement of negotiations.