The Maldives-Türkiye Free Trade Agreement (FTA) has been finalized, confirmed by Minister of Economic Development and Trade, Mohamed Saeed. The Preferential Trade Agreement (PTA) that forms the basis of the FTA was completed last Thursday and is now awaiting approval by the Grand National Assembly of Türkiye.

According to Minister Saeed, once the Turkish parliament approves the agreement, both countries will sign the FTA, which is expected to come into effect around December 2024 or January 2025.

The Maldives has negotiated concessions on 38 key export items, including yellowfin tuna, skipjack tuna, dried fish, and other fish products. Saeed also highlighted Türkiye's significant role as a leading fish processor for European markets, emphasizing the strategic benefits of this agreement for Maldivian exports.

The Maldives is also set to implement the 2018 Free Trade Agreement with China. Over the next two months, customs and border officials in both countries will undergo training to familiarize themselves with the agreement's new provisions, ensuring smooth execution.

With President Mohamed Muizzu making Türkiye his first official visit after taking office, relations between the two nations continue to grow, and the FTA marks a significant step toward strengthening economic ties.