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China-Maldives FTA to come into effect on January 1, 2025
(MENAFN) The China-Maldives Free Trade Agreement (FTA) is scheduled to come into effect on January 1, 2025, as announced by China's Ministry of Commerce (MOC) in a statement on Monday. The announcement was made following a video conference between Chinese Commerce Minister Wang Wentao and Maldives Economic Development and Trade Minister Mohamed Saeed, where the details of the FTA were discussed.
Under the agreement, most of China's industrial exports to the Maldives, including ships, electrical equipment, furniture, and agricultural products, will benefit from the free trade provisions once the FTA is implemented. In turn, the Maldives' aquatic exports to China will also see zero tariffs, fostering improved trade relations between the two countries.
This agreement is expected to have a significant impact on both countries' economies by facilitating trade and investment. It is seen as a step toward enhancing the liberalization and facilitation of trade, which will contribute to a more streamlined economic exchange between China and the Maldives.
The China-Maldives FTA is poised to provide a strong institutional framework for furthering bilateral economic ties, benefiting businesses and citizens in both nations. With the agreement in place, it is anticipated that trade relations will continue to grow, enhancing the economic well-being of both countries.
Under the agreement, most of China's industrial exports to the Maldives, including ships, electrical equipment, furniture, and agricultural products, will benefit from the free trade provisions once the FTA is implemented. In turn, the Maldives' aquatic exports to China will also see zero tariffs, fostering improved trade relations between the two countries.
This agreement is expected to have a significant impact on both countries' economies by facilitating trade and investment. It is seen as a step toward enhancing the liberalization and facilitation of trade, which will contribute to a more streamlined economic exchange between China and the Maldives.
The China-Maldives FTA is poised to provide a strong institutional framework for furthering bilateral economic ties, benefiting businesses and citizens in both nations. With the agreement in place, it is anticipated that trade relations will continue to grow, enhancing the economic well-being of both countries.
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