The Maldives-Türkiye Free Trade Agreement (FTA) has been drawn up, Minister of Economic Development and Trade Mohamed Saeed has confirmed. The Preferential Trade Agreement (PTA) for the FTA was finalised last Thursday, the minister said on Saturday.
According to the Minister, the agreement will now be presented to the Grand National Assembly of Türkiye, the Turkish parliament, for approval.
“Then the two countries will sign. We expect it to be effective around December or 1 January [2025],” Saeed said.
Türkiye and the Maldives currently seem to have a special relationship, with President Mohamed Muizzu’s first official overseas stop upon taking office being to Türkiye. Negotiations on a free trade agreement between the two countries began in March.
While the administration had earlier said it would seek to establish zero tariffs on 214 items to be exported to Türkiye under the FTA, Saeed said on Saturday that the Maldives has requested concessions on 38 items.
“Türkiye has reduced the duty on the remaining items. However, we have 38 items that are zero tariff or where we do not have to pay any duty at all,” he said.
The top priorities include yellowfin tuna, skipjack tuna, dried fish, and various types of fish products.
Saeed noted that Türkiye was also the leading fish processor for European nations — highlighting the nation’s lobbying power when it comes to fish products.
Meanwhile, the Maldives will now also implement the 2018 Free Trade Agreement with China. The two countries have agreed to familiarise customs and border staff about the new allowances over the next two months.
“The current free trade agreement between China and Maldives can be [effective] whenever the two countries want. There are no legal or technical obstacles,” he said.
