The Maldives Customs Service has reported that goods worth over MVR 1.9 million, imported under the China-Maldives Free Trade Agreement (FTA), have been cleared from local ports since the start of the year. The agreement came into effect in January 2025, marking a significant development in bilateral trade relations.
According to Customs, nine air consignments were cleared as of last Saturday, with a combined Cost, Insurance, and Freight (CIF) value of MVR 882,381. An additional three shipments arrived by sea, holding a CIF value of MVR 1,040,875.
Speaking on the FTA, Minister of Economic Development Mohamed Saeed noted that the agreement—allowing for current account transactions—would greatly enhance the Maldives’ trade prospects. Under the deal, the Maldives is exempt from paying duties on 91 percent of imported commodities, and importers can make purchases using the local currency, the Maldivian Rufiyaa.
The FTA’s implementation is expected to drive further economic growth by reducing trade barriers, encouraging a wider range of imports, and strengthening commercial ties between the Maldives and China. Officials are optimistic that local businesses will benefit from easier access to goods, while consumers could see a broader selection of products entering the market.
