In a significant development aimed at fortifying bilateral trade ties, the Maldives has embarked on discussions regarding the establishment of a preferential trade agreement (PTA) with Turkey.

The revelation surfaced through a post on X by the Ministry of Economic Development and Trade yesterday, with Economic Minister Mohamed Saeed subsequently retweeting the announcement and providing commentary on the initiative.

Buoyed by the outcomes of the visit, efforts are now underway to lay the groundwork for a comprehensive PTA that encompasses mutually beneficial terms for both parties.

Minister Saeed echoed the sentiment expressed in the announcement, emphasizing that the impetus for these negotiations can be traced back to President Muizzu's recent visit to Turkey, during which pivotal agreements were inked to bolster trade and economic cooperation between the two nations.

This underscores the strategic imperative of fostering stronger commercial relations between the two countries.

President Muizzu's diplomatic overtures during the visit yielded tangible outcomes, including decisions such as the potential importation of essential commodities from Turkey and the establishment of a Maldivian embassy in Turkey.

These initiatives underscore the tangible progress achieved in advancing bilateral relations.

As negotiations progress, stakeholders anticipate that a finalized PTA will not only streamline trade flows but also serve as a catalyst for broader economic engagement between Maldives and Turkey.

With both nations demonstrating a firm resolve to leverage their economic synergies, the envisioned PTA holds promise for unlocking new avenues of growth and prosperity for both countries