Economic Minister Mohamed Saeed has said that the free trade discussions with China carried out in Bandos Island Resort were successful and that the aim of the Government is to export Maldivian products to China, with no duties.
Speaking in a press conference held yesterday in the resort, Minister Saeed said that the two day discussions were highly promising.
“The Male’ round of the discussions, which started yesterday were nearing completion. The two parties wish to conclude the discussions and implement them,” he said.
Minister Saeed said that the main exports were fish and fish products and as such they were aiming to secure free tariff exports for the products. He added that due to this, Maldivian exporters will gain enormous benefits.
The Minister also noted the discussions were held on many different areas.
“Maldives is party to World Trade Organization and other similar organizations. We have to ensure that any free trade agreements adhere to the conventions we are following,” Minister said.
“This is a remarkable venture between the world’s largest economy and one of the smallest nations. China is the largest consumer market,” he said.
Minister Saeed said that the second round of discussions will be held from 29th February to 4th March, in Beijing. He also said that the target is to ensure that a deal can be signed before the end of the year or start of next year. He added that the negotiations will proceed during this period.
Minister Saeed said that free trade agreements between China and Australia took 15 years to materialize, with some other nations around 10 years. He cited that being able to pen such a deal with China in the period of two to three years was a historical feat.