Minister of Economic Development Mohamed Saeed has stated that, revenue lost as import duty once the Free Trade Agreement between Maldives and China comes into effect, can be retrieved with the creation of new businesses. He made the statement, speaking on PSM News Talk Show 'Rajje Miadhu'.
Minister Saeed revealed that discussions on the establishment of an FTA between Maldives and China were held with government institutions, public and private companies in addition to private businesses and businessmen.
The Economic Minister further noted that some media outlets in Maldives have been spreading false information and news about the provisions in the free trade agreement and stated that such agreements are a globally accepted norm.
The Minister highlighted that the FTA would pave way for the emergence of new businesses. Continuing on this note, Minister Saeed stated that the FTA would not only boost fisheries, but also tourism.