A Preferential Trade Agreement (MTPTA) between Maldives and Turkey has come into effect today. 

In a post on X, Economic Minister Mohamed Saeed announced that from today onwards, there will be special concessions in place for trade between the countries. 

The first agreement related to this was signed in November 2024. Following this, discussions began on points included within this agreement. 

Saeed said that under the agreement, lower tariffs will be in place for 75 types of products. There will also be concessions in exporting fisheries products from Maldives to Turkey, he added. 

The Economic Ministry has previously said that under this agreement, fisheries products can be exported to Turkey without any tariffs. 

Saeed stated that further economic relations will be built between the two countries in the future. 

President Dr Mohamed Muizzu's first State Visit after assuming office was to Turkey. During that visit, deliberations on entering a trade agreement were initiated. 

Maldives has now decided to set in motion the Free Trade Agreement with China established in 2018. Discussions are also underway to establish similar agreements with India and the UK.