Maldives welcomes the announcement by the Government of United Kingdom (UK) to commence an eight-week call for input in preparation to negotiate a Free Trade Agreement (FTA) with the Republic of Maldives, inviting business, organisations and individuals to help shape the UK’s negotiating aims with the Maldives.

The UK has highlighted today that the Maldives is one of the few countries within the Commonwealth that the UK has not pursued a FTA with or offered preferential market access through an existing Trading Scheme framework.

Regarding this President's Office stated that strengthening the competitiveness of the Maldives’ economy and creating favourable market opportunities for local businesses has been a top priority under President Ibrahim Mohamed Solih’s government.

They highlighted that over the past four years, the Government has actively pursued negotiations with the UK, striving to eliminate the existing 20% tariff imposed on our fish exports to that country. As such, this significant step marks the start of the process to establish a FTA between the Maldives and the UK.

Through this agreement, the Government seeks to gain preferential treatment to the goods traded to the UK and unhindered access to its market by elimination of tariffs.

The trade deal is also expected to enhance bilateral trade between the Maldives and the UK, opening new avenues of economic growth and prosperity.

The President's Office further stated that the Government is confident that this trade agreement will bolster economic cooperation between the Maldives and UK.