Fayyaz hails proposed free trade deal with UK as transformative
Fayyaz said this is one of the most significant steps in recent history to facilitate the export of local fish products to the UK without any tariffs.
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Economic minister Fayyaz Ismail said on Thursday that the proposed Free Trade Agreement between the Maldives and the United Kingdom will bring about a positive change in the Maldives' economy.
Thanking the economic ministry and foreign ministry teams involved in negotiating the FTA, Fayyaz said the start of free trade negotiations is an important step in the direction ahead. He said:
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This is one of the most significant steps in recent history to facilitate the export of local fish products to the UK without any tariffs
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Development of the Maldives' fisheries sector will help the fishermen get a better price for their catch
Foreign minister Abdulla Shahid also tweeted about the development. He noted that this was the result of President Ibrahim Mohamed Solih's efforts over the past four years to cut the 20% tax on fish exports to the UK.
"We welcome the UK's decision to begin the process of signing a free-trade-agreement with the Maldives today... This will further strengthen the economic ties between the Maldives and the UK and strengthen trade ties," Shahid tweeted.
The UK's Department for Business and Trade on Thursday invited business, organisations and individuals to participate in an eight-week call for input in preparation to negotiate a goods-only FTA with the Maldives.
The UK said Maldives is one of the few countries in the Commonwealth which the UK is not already pursuing an FTA with or does not already have preferential access to the UK market.
