The final phase of negotiations on the China Maldives Free Trade Agreement has concluded in Maldives.
Speaking to the media after the conclusion of the negotiations, Minister of Economic Development Mohamed Saeed, who also headed the Maldivian delegation in the negotiations, said that the negotiations were a huge success and that the historic Free Trade Agreement with China is scheduled to be signed in June 2017. During the negotiations China agreed not to charge any tax for fish and seafood products being exported from Maldives. This decision would ease the difficulties faced by the local fisheries industry in exporting local fish products, according to the Economic Minister.
Furthermore, Minister Saeed highlighted the President Yameen's policy is to advance the country's economy. President Yameen wants to raise the gross domestic product (GDP) of the country by bringing in major investments, he added.
The official discussions on the proposed free trade agreement between the two countries were initiated in September 2015 in Maldives, while the second round of the negotiations took place in China. The third round of talks, focused on finalising the agreements reached during the previous talks was concluded in October 2016 in China.