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Free trade agreement between Maldives, EU, UK in the works

15 December 2018, MVT 22:12
Cabinet discussions took place regarding the possibility of signing a free trade agreement between Maldives and the UK, EU. PHOTO:MIHAARU
15 December 2018, MVT 22:12

President Ibrahim Mohamed Solih, on Thursday, announced that efforts to sign a free trade agreement with the European Union (EU) and the United Kingdom (UK) were underway.

Speaking at a function held in Gemanafushi, Gaafu Atoll to celebrate Fishermen’s Day, President Solih stated that ensuring a fair price for Maldivian fish exports was a top priority for the government.

According to the President, the 22% tariff imposed on exports to Europe was a burden on the local economy and would be best solved by signing a free trade agreement with the EU and the UK.

President Solih expressed his belief that such an agreement would be easily achievable if diplomatic ties are strengthened.

Stating that due to changes in the international fisheries industry Maldivian fishermen do not receive the same premiums as their foreign counterparts, the president assured that the government would negotiate solutions for the issue.

A free trade agreement was established between the Republic of China and Maldives during the administration of former President Abdulla Yameen Abdul Gayoom.

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