Maldives-China Free Trade Agreement Now Active, Over 100 Small Businesses Registered

Maldives Economic Minister Mohamed Saeed has announced the activation of the Maldives-China Free Trade Agreement (FTA), signed over a decade ago. The agreement has already led to the registration of more than 100 small businesses and exporters. Speaking at the handover ceremony of the country’s first sustainable township development project, Saeed noted that the FTA was signed in December 2014 during President Abdullah Yameen’s administration and approved by Parliament in November 2017. However, it remained unimplemented throughout President Ibrahim Mohamed Solih’s term. Saeed emphasized that the agreement is now operational, with 11 exporters already registered and efforts underway to onboard hundreds of small businesses onto online platforms. The initiative follows a recent Alibaba workshop and aims to facilitate cross-border e-commerce. The FTA is expected to boost investor confidence, strengthen economic ties between Maldives and China, and empower Maldivian businesses to expand internationally. The Economic Ministry highlighted that the agreement will enhance trade, reduce the cost of goods, and open new market access between the two countries, fostering fresh business opportunities and long-term economic growth.