Maldivian Government welcomes the announcement by the Government of the United Kingdom to commence an eight-week call for input in preparation to negotiate a Free Trade Agreement (FTA) with the Republic of Maldives, inviting businesses, organizations, and individuals to help shape the UK’s negotiating aims with the Maldives.
The President's Office said in a statement that strengthening the competitiveness of the Maldives’ economy and creating favorable market opportunities for local businesses has been a top priority under President Ibrahim Mohamed Solih’s government.
It said that over the past four years, the Government of Maldives has actively pursued negotiations with the United Kingdom, striving to eliminate the existing 20 percent tariff imposed on our fish exports to the UK.
The Statement stated that this significant step marks the start of the process to establish a Free Trade Agreement between the Maldives and the United Kingdom.
It noted that through this agreement, the Government of Maldives seeks to gain preferential treatment for the goods traded to the United Kingdom and unhindered access to its market by elimination of tariffs.
The President's Office said that the trade deal is expected to enhance bilateral trade between the Maldives and the United Kingdom, opening new avenues of economic growth and prosperity.
It ended the statement by saying that the Maldivian remains confident that this trade agreement will bolster economic cooperation between the Maldives and UK.
