The Preferential Trade Agreement (MTPTA) signed between the Maldives and Turkey has come into effect starting today.

Economic Minister Mohamed Saeed, posting on X, said the agreement will bring significant ease to trade between the two countries, with tariffs being reduced on 75 categories of goods. He particularly noted that Maldivian exporters will benefit from important concessions when supplying fish products to the Turkish market.

The Economic Ministry had earlier stated that the agreement will also open opportunities to send certain fish products to Turkey completely tariff-free.

The agreement was first signed in November 2024. Following that, the two countries held detailed discussions on what would be included in the agreement. Saeed said economic ties between the two countries will continue to be further strengthened in the coming period.

Turkey was the first country that President Dr. Mohamed Muizzu visited on an official trip after assuming office. During that visit, discussions on forming a trade agreement between the two countries were also initiated.

In addition to Turkey, the Maldives has now decided to implement the Free Trade Agreement (FTA) it signed with China in 2018. Discussions are also underway on similar agreements with India and the United Kingdom.