Minister of Economic Development of Maldives, Mohamed Saeed has said that the Free Trade Agreement between Maldives and China will allow Maldivian companies to import seafood items unavailable from the country, package it, and then export it to China.
Minister Saeed made the comment during his interview to the Television Maldives show “Rajje Miadhu” on Sunday night.
Saeed said that negotiations for the FTA between the two countries – which mainly centered on the export of Maldivian fish products to China - was now complete.
He said that Maldivian companies would be able to export fish products to China duty-free starting from the day the FTA is made official.
Saeed said that an average of 150,000 tons of fish were caught in the country each year, out of which Maldivians needed only 40,000 tons. He said that the rest could be value added and exported to other countries.
He said that fish and seafood that are not available from Maldives can be imported into the country, packaged, and then exported to China free of duty.
Saeed said that the move will ensure that people involved in the fisheries and seafood industry of Maldives get the value they deserve for their work.
“China is the world’s second largest economy. They have the most powerful consumer strength or ability to purchase goods,” said Saeed.
Ministry of Economic Development has said that the FTA between Maldives and China will be signed by end of April, 2017.