The Preferential Trade Agreement (PTA) between the Maldives and Türkiye officially took effect on August 1, opening new opportunities for local businesses and industries, including the country’s growing creative sector.

The agreement was finalized following nine months of negotiations and consultations with stakeholders from various industries.

Under the PTA, the Maldives will receive duty concessions and duty-free access for selected categories of goods imported from Türkiye.

The Government has identified the development of a stronger creative economy as one of its priorities in efforts to diversify the Maldivian economy.

State Minister for Economic Development and Trade Hussain Zamir said the agreement is expected to provide local artists and designers with improved access to high-quality production materials at more affordable prices.

The agreement provides concessions across multiple categories of goods under internationally recognized customs classifications.

The Government expects the PTA to support several sectors, including fisheries, agriculture, restaurants, small and medium-sized enterprises, and creative industries.

Officials also expect the agreement to improve access to Turkish products and strengthen trade between the two countries.

Current trade between the Maldives and Türkiye is estimated at approximately USD 70 million.

The Government views the PTA as part of its broader strategy to expand international trade partnerships, reduce costs for businesses, and create new opportunities for economic growth across different sectors.