Maldives and China have entered an agreement to export local fish products. The agreement was signed by the Vice Minister of the General Administration of Customs of the Peoples Republic of China (GACC) Wu Haiping and the Deputy Minister of Health Ismail Zahir.
Following the signing of the agreement, Deputy Minister Zahir stated that the agreement will facilitate many conveniences to local businesses. Meanwhile, Ambassador of China to the Maldives Wang Lixin highlighted that the agreement will provide mutual benefits, while paving the path for Chinese businesses to easily access seafood from the Maldives.
Seafood products which are exported to China are to meet certain requirement. Hence, the health ministry notes that the agreement will assist in ensuring that the seafood products exported to China aligns with the necessary requirements.
The government aims to increase the benefits which can be obtained from ocean resources. As such, the government is currently preparing to implement the free trade agreement with China, effective from next year onwards. According to the government, Maldives and China engages in trade activities worth USD 700 million. It anticipates that this amount will project to USD 1 billion, following the implementation of the free trade agreement.