India wants free trade agreement with Maldives, minister says
The minister also said the new parliament would work on the laws needed to implement the Free Trade Agreement signed with China.
By
Aishath Fareeha Abdulla
India wishes to sign a free trade agreement with Maldives and has led the proposal, Economic Minister Mohammed Saeed said.
At a press conference held at the Economic Ministry on Saturday, he said India had expressed its desire for such an agreement amidst talks with the country.
"They want such an agreement separately and in addition to SAFTA (South Asian Free Trade Area). The President has opened that opportunity to all countries," Saeed said.
While the Economic Minister said thus:
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India has already granted permission to import essential food items to Maldives under special permits
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These include onions, eggs, potato and lentils along with the food staples (rice, flour, sugar)
The minister also said the new parliament would work on the laws needed to implement the Free Trade Agreement signed with China during the government of former President Abdullah Yameen.
In addition, during his official visit to Turkey, President Dr. Mohamed Muizzu agreed to enter into a preferential trade agreement with that country and negotiations are nearing completion, he added.
"FTA discussions are normally completed after 2-3 meetings. It will be completed within this year”.
Maldives currently charges a high tariff on fish and other fish products exported to Turkey, but the amount will be reduced with the agreement, he said. He said the tariff is being reduced to 0%.
Saeed also said that President Muizzu wanted to work out a deal with the UK that would allow them to do trade in a broader range than what was contained in the current Free Trade Agreement.
"He wants to expand the investment sector, the financial sector. Within a completely new scope, the UK-Maldives free trade arrangement will also be opened," Saeed said.
