China and Maldives has signed the MOU to establish a free trade zone between the two nations.
Gao Yan, Vice Minister for Ministry of Commerce and Economic Minister Mohamed Saeed signed the agreement. The MOU was signed on the second meeting of the China Maldives Joint Committee on Trade and Economic Cooperation (JCTEC), held in Kurumba Maldives.
Minister Mohamed Saeed stated that the MOU was a significant step forward in the economic history of the nation. Minister Saeed said that this is the first free trade agreement of this caliber and will seek to enact the measures in the agreement. He also added that discussions will begin in Male’ in October.
He added that this was the direct result of the strong economic decisions and vision of President Abdullah Yameen Abdul Qayyoom. Minister Saeed noted that this was also the result of the strong discussions carried out by the Presidents of the two nations. He cited the design of the China Maldives Friendship Bridge, unveiled last Monday, was a sing of the ever developing economic ties between the two nations.
Minister Saeed assured that Maldives will remain a committed partner in the Chinese led 2st centry Maritime Silk Route initiative. He stated that in the JCTEC meeting, the Government had presented the projects that can be kickstarted with Chinese assistance and added that fruitful discussions were held on those projects. Minister also reported that discussions were held on how to obtain finances for the ongoing and planned projects.