The Maldives Industrial Fisheries Company (MIFCO) has begun preparations to export Maldivian fish products to China, signing a memorandum of understanding with SINOMACH Hainan Development Company on October 28.
The Maldives Industrial Fisheries Company (MIFCO) has begun preparations to export Maldivian fish products to China, signing a memorandum of understanding with SINOMACH Hainan Development Co. Ltd on October 28.
The agreement was signed at the China–Maldives Investment Cooperation Forum in the Maldives. MIFCO Chief Executive Officer and Managing Director Mohamed Anas signed on behalf of the state-owned fisheries company, while Chief Advisor Ou Weiguo signed for SINOMACH Hainan Development.
Under the MoU, the companies will work together to identify business opportunities in China and develop supply chain arrangements for Maldivian fish products.
The cooperation will cover product quality control, packaging and logistics, as well as compliance with the legal requirements for exporting fish to the Chinese market.
MIFCO will serve as the principal fish supplier, while SINOMACH Hainan will explore market opportunities in China.
The two companies also agreed to discuss increasing export volumes from next year, subject to initial studies and trade arrangements.
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