Maldivian Ambassador for Belgium and the European Union Ahmed Shiaan says that discussions are underway to reduce tax taken from fish products exported from Maldives to European countries.
Europe withdrew its duty allowance on exported fish products in 2014 when Maldives was ranked as a medium income country. Since the change, an amount between 14 percent and 20 percent is charged as duty, for fish products exported to Europe.
However, Ambassador Shiaan expressed hope that a solution can be found for the matter, soon. On his trip to the United Kingdom, Minister of Economic Development Mohamed Saeed had proposed a free trade agreement between the two countries, according to the Ambassador. He said that as a result of Brexit, the United Kingdom can now come to autonomous agreements with individual countries.
Over 40% of all fish products exported by Maldives, are exported to European countries.