News Desk
MALE’ — A bilateral Preferential Trade Agreement between the Maldives and Turkey officially took effect on Saturday, marking a key milestone in deepening economic ties between the two nations.
The Ministry of Economic Development and Trade announced the implementation of the historic accord, formally titled the “Preferential Trade Agreement between the Government of the Republic of Maldives and the Government of the Republic of Türkiye.” The agreement was originally signed in Male on 4 November 2024.
According to the ministry, both governments have completed the requisite legal procedures under Article 25 of the agreement to bring the framework into force. Formal written notifications certifying the completion of these legal prerequisites were recently exchanged between the two nations.
Under the terms of the agreement, tariffs will be reduced or entirely waived on 75 categories of goods imported from Turkey into the Maldives.
According to the government, the deal is a direct outcome of discussions held during President Dr Mohamed Muizzu’s state visit to Turkey in November 2023. Notably, Turkey was the first foreign nation President Muizzu visited in an official capacity after assuming office.
The pact also offers tariff relief on essential food items imported into the Maldives from Turkey. Government officials note that this duty relief is expected to help stabilise local commodity prices and diversify the country’s import channels, while opening doors for bilateral investment and deeper economic integration.
The implementation comes amid a broader push by Malé to expand its global trade network. The government has also decided to operationalise a Free Trade Agreement signed with China in 2018, while actively pursuing similar trade pacts with India and the United Kingdom.
Both parties formally agreed that the pact would take effect on 1 August 2026, launching a new era of bilateral commercial cooperation.
