Maldives businesses will use every opportunity, Saeed says

Economic minister Mohamed Saeed said on Monday that Maldivian entrepreneurs would seize opportunities to grow their businesses, emphasising their resilience and initiative.

He made the remarks at a ceremony marking the forthcoming implementation of the Maldives-China Free Trade Agreement, set to take effect in 2025.

Saeed highlighted that the agreement allows Maldivian businesses to import seafood products and export them to China with zero tariffs. He urged businesses to maximise the potential benefits of this arrangement.

"I am confident that Maldivian businessmen will not remain passive when opportunities arise. They will work to grow, contribute ideas, and provide valuable advice to the government," Saeed said.

Reflecting on the history of Maldives’ tourism industry, Saeed noted that its introduction in 1972 was the result of entrepreneurial vision.

"In 1972, tourism in the Maldives began modestly. Today, it has become one of the most recognised industries globally. This reflects the determination of our people," he said.

Saeed described the Maldives-China Free Trade Agreement as a significant milestone, offering opportunities for the service sector, investment activities, and internet-based business transactions.

The agreement is also expected to reduce the cost of Chinese imports and create avenues for Maldivian entrepreneurs to capitalise on business opportunities in China.

Originally signed on December 7, 2017, the agreement remained dormant for seven years before being scheduled for implementation in 2025. Saeed noted that this development marks a historic moment that will be celebrated in years to come.