The United States’ tariff policies will not directly impact the Maldives’ fish exports, Minister of Economic Development and Trade Mohamed Saeed has said. The Minister made the remarks during a press conference held at the President’s Office on Monday.
At the press conference, the Minister was asked whether the United States’ new tariff policy would affect fish exports. Answering the question, the Minister said the tariffs imposed by the United States on the Maldives are relatively low compared to those on other countries. The lowest tariff rate applied to Maldivian exports stands at 10 percent, he noted.
"The Maldives primarily exports fish products. Compared to our other competitors, the rate imposed on the Maldives is relatively low. Therefore, it is unlikely that the US tariff policy will have any direct impact on the Maldives,” the Minister said.
Minister Saeed acknowledged that such economic measures taken by major global powers could affect the availability of products in the global market, thus increasing the likelihood of inflation. The Minister noted that international experts are also monitoring the broader implications of the US tariff policy. The Maldivian government, too, is taking steps to mitigate any potential impact on the economy, he said.
The Minister further noted that the Free Trade Agreement with China and the Preferential Trade Agreement with Türkiye are also strategic steps towards economic resilience. He added that despite the changing global situation, there has been no decline in tourist arrivals to the Maldives.
Last year, the Maldives achieved its record tourism arrival goal of two million tourists. This year, the government aims to host 2.3 million tourists. Over 130,000 tourists have visited the Maldives so far this month, according to the Ministry of Tourism.