Maldives–Türkiye Trade Agreement Enters Into Force, Boosting Fisheries Market Access

The Maldives–Türkiye Preferential Trade Agreement (MTPTA) has entered into force, providing enhanced preferential market access for Maldivian fisheries exports to Türkiye and opening new opportunities for trade between the two countries.

The agreement, which took effect today, covers 75 tariff lines at the six-digit level of the Harmonized System (HS), with preferential tariff concessions exchanged by the Maldives and Türkiye.

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The government said the agreement will strengthen the competitiveness of Maldivian fisheries exports in the Turkish market, which has more than 85 million consumers.

The agreement also allows Maldivian businesses to source a wider range of Turkish products, including essential commodities, under preferential tariff arrangements.

The government said the concessions are expected to diversify import sources, strengthen supply chain resilience, improve price competitiveness, support export growth, promote industrial development and encourage stronger commercial ties between businesses in both countries.

The MTPTA was signed on November 4, 2024, by the Maldives’ Minister of Economic Development, Transport and Trade and Türkiye’s Minister of Trade.

Its implementation follows growing bilateral economic ties, including President Dr Mohamed Muizzu’s official visit to Türkiye from November 26 to 29, 2023. During the visit, Muizzu and Turkish President Recep Tayyip Erdoğan reaffirmed their commitment to expanding cooperation in trade, tourism, investment and economic development.

The government said the agreement marks a new phase in Maldives–Türkiye economic relations and reflects both countries’ commitment to expanding market access, strengthening economic resilience and supporting sustainable economic development.