Maldives-Türkiye Preferential Trade Agreement (MTPTA) officially entered into force, marking a new stage in economic and commercial relations between the two countries.

The agreement was signed during President Dr. Mohamed Muizzu's official visit to Türkiye in 2023, with the aim of expanding trade and creating greater opportunities for businesses in both countries.

Economic Development and Trade Minister Mohamed Saeed described the implementation of the agreement as a major milestone in bilateral economic relations.

He also linked the development to the shared economic vision of President Dr. Muizzu and Turkish President Recep Tayyip Erdoğan.

Under the agreement, preferential trade treatment will be provided for 75 categories of goods, creating new opportunities for Maldivian exporters and businesses.

One of the key anticipated benefits is increased access for Maldivian fish products to the Turkish market, which has a population of more than 85 million.

The agreement is expected to provide Maldivian seafood exporters with improved opportunities to enter and expand within the Turkish market.

At the same time, Maldivian businesses will gain preferential access to Turkish products and essential commodities, potentially providing new sourcing options and strengthening commercial links between the two countries.

The government expects the agreement to contribute to greater bilateral trade, expand business opportunities and support long-term economic cooperation.

The Maldives and Türkiye have also developed cooperation across several other areas, including economic relations, defense and education, with the new trade agreement adding another significant component to the growing bilateral partnership.