The Preferential Trade Agreement (PTA) between the Maldives and Türkiye is on track to take effect within the next two months, paving the way for duty-free trade on dozens of key products, Economic Development and Trade Minister Mohamed Saeed has confirmed.
Signed on 4 November 2024, the agreement will come into force once it is ratified by Türkiye’s parliament — a process Minister Saeed expects will be completed within one to two months. Once implemented, all goods covered under the PTA will be exempt from import duties.
Speaking on state media, Minister Saeed highlighted the fisheries sector as one of the biggest beneficiaries of the deal. The agreement secures zero-duty access for 39 key Maldivian products, many of which previously faced tariffs as high as 60 percent, and grants significant tariff reductions for an additional 103 products.
Officials say the move will give Maldivian fish exporters a stronger foothold in the Turkish market and open up new avenues for expanding trade between the two nations.
The PTA with Türkiye comes on the heels of another major trade milestone — the Maldives’ free trade agreement with China, which took effect on 1 January 2025. That deal offers Maldivian exporters preferential access to the Chinese market, further diversifying the country’s global trade network.
