China-Maldives FTA will increase bilateral transactions to USD 1 billion: Govt

The Free Trade Agreement (FTA) between China and Maldives, which would allow current account transactions between both countries in their respective currency, would increase business transactions between the two countries up to a billion dollars, said Spokesperson of President's Office Heena Waleed.

Speaking at a press conference at the President's Office last evening, Heena said the MoU signed between the Maldivian government and the People's Bank of China on September 13 will bring many benefits to Maldives.