United Kingdom has decided to suspend the tariff or import duty levied on Maldivian tuna.
Because a 20 percent duty is currently levied on fish exported from the Maldives to Europe, Maldivian fishermen have been complaining about the decline in fish prices for many days.
Various governments have been negotiating with the UK for a very long time to eliminate this duty. Although these discussions were held at various levels, no progress was made.
However, the UK has altered its stance for the time being, deciding to suspend the duty levied on Maldivian tuna until the year 2028.
In connection with this, President Dr. Mohamed Muizzu stated in a post on X that he warmly welcomes the decision made by the UK government to eliminate the tariff levied on Maldivian tuna products starting today.
"This is a relief for UK customers, and it will also bring major advancements to the Maldivian fishing industry. This will increase the income of fishermen, improve the standard of living in islands, and open up vast opportunities in the UK market for sustainably caught Maldivian tuna products," the President said.
He further noted that this symbolizes the close relationship between the Maldives and the United Kingdom, as well as the importance given by both countries to strengthening sustainable trade and economic ties.
President Muizzu stated that the Maldives is a country that conducts exemplary fishing recognized globally, prioritizing sustainable and responsible fishing principles.
"I express my gratitude to the British government which facilitated this advancement achieved for our fishermen and national economy, and to all parties who assisted in this matter," the President said.
The Maldives exports tuna to the UK to an amount between approximately 16.7 and 18 million pounds annually. The Maldives is the ninth largest country among those that import tuna products into the UK.
The Maldivian government stated that it will continuously carry out the necessary negotiations with the UK government to make today's decision permanent.
The Fisheries Ministry stated in a statement issued by them that due to the decision, opportunities will be facilitated for Maldivian tuna products to compete on an equal footing with other businesses, profits for fish processors will increase, and the prices offered to fishermen will improve further.
"The direction of global premium markets is now heavily focused on fish and value-added fish products produced from sustainably caught fish. In this regard, with the elimination of the tariff levied on tuna imported into the United Kingdom, a full and equal opportunity has now been facilitated for Maldivian fish exporters to compete in that market," the statement read.
Previously, the UK had been setting various conditions to eliminate the duty. It is not yet known under what conditions this latest decision came about.
The Maldives has also been carrying out numerous discussions with the European Union (EU) to eliminate the duty levied on fish. However, no progress has been achieved in the matter so far.
Following the Maldives' participation in the "Samoa Agreement" of the Organization of African, Caribbean and Pacific States (OACPS), which is an international treaty, President Muizzu also discussed with the European Union (EU) regarding the reduction of tariffs levied on fish exported from the Maldives.
