Ministry of Foreign Affairs has stated new developments have been made in its efforts to export fish to Europe.
Speaking at the Parliamentary Committee on Economic Affairs in response to a letter sent by Parliamentarian Ahmed Thoriq, Minister of State for Foreign Affairs Ahmed Khaleel said Maldives has made new developments with the European Union (EU) over the past eight months. Khaleel said Maldives has completed all requirements of the EU to ease current tariffs it places on fish exports.
After Maldives became recognised as a developing nation, the EU has been charging a tariff on fish exports to EU nations from Maldives since December 2013. The decision has caused a decrease in fish export profits. When Maldives was listed under Least Developed Countries (LDC), the tariffs imposed on fish exports were not applicable under EU's Generalised System of Preference (GSP).
State Minister Khaleel said various deliberations have been carried to ease the tariff put on fish exports in addition to further strengthening other trade relations. Khaleel further said the case of Maldives will be discussed when the GSP is revised this year. He added the ministry is also holding meetings with EU countries to better the price of Maldivian fish.
40% of all fish export from Maldives is to EU countries and a 24% tariff is currently taken on all fish exports from Maldives.