Maldives and China have formalized a new Free Trade Agreement (FTA) to enable the export of Maldives fish products to China.
According to Trade Minister Mohamed Saeed, the commencement of fish exports to China under the Free Trade Agreement marks a successful outcome of President Dr. Mohamed Muizzu’s strategy to expand Maldivian products globally. The minister emphasized that this development demonstrates the administration’s effective efforts to elevate the country’s global market presence.
A partnership agreement has been established between Ensis Pvt Ltd and Beijing’s Xinguang Show Commercial Management Company for the export of fish products. Maldives Ambassador to China, Dr. Fazeel Najib, and State Minister of Fisheries and Ocean Resources, Dr. Amzath Ahmed, attended the signing ceremony. The Fisheries Ministry described this development as a landmark achievement for the Maldives’ fishing industry.
According to the agreement, Ensis Fisheries will export canned and frozen tuna to China, with the initial shipment planned for mid-March. The distribution network will cover Beijing and its neighboring provinces while also utilizing online marketplaces for broader reach.
The bilateral Free Trade Agreement between Maldives and China, which took effect on January 1, is expected to boost both export and re-export activities, creating new employment opportunities and business prospects. Economic analysts highlight that access to China’s vast consumer market of over 1.41 billion people will fuel the growth of Maldivian businesses and bolster the country’s economic development.
As per the FTA, Maldivian fish exports to China, including fresh, chilled, and frozen skipjack tuna, various types of grouper and tuna, canned fish, smoked fish, salted fish, and other seafood products, will be exempt from import duties. Additionally, over 7,000 Maldivian products will be exported to China at 0% duty.
The minister lauded Ensis Fisheries for their successful entry into the Chinese market and credited President Muizzu’s leadership in advancing international commerce. He pointed out that the rapid execution of the Free Trade Agreement has already started producing concrete advantages for businesses in the Maldives.
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