Minister of Fisheries and Ocean Resources Ahmed Shiyam has announced that the Maldives will halt the import of fish at low duty rates.
Speaking to PSM News, Minister Shiyam addressed the issue of fish imports at low duty, revealing that the government is taking steps to resolve the issue. As such, he emphasised that the government does not intend to allow fish to enter the country at low prices and said that the cabinet has already discussed the matter.
Additionally, Minister Shiyam highlighted the need for changes in the fisheries sector. He noted a decline in the fish processing capacity of the Maldives, resulting in fish being exported at low prices. He also said that the government's goal is to triple the fish processing capacity, enabling the processing of 95% of the fish currently caught in the Maldives.
Furthermore, Minister Shiyam said the government is making efforts to ensure fair prices for fish produced in the Maldives and to expand export markets. As such, he said that the free trade agreements (FTAs) with China, Türkiye, and the United Kingdom (UK) would positively impact the fisheries sector of the Maldives. He also said that the marketing company's operations have commenced administratively to expand fisheries marketing efforts and will continue next year with sufficient budget allocation.