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"Agreement with Türkiye to connect local businesses with European markets"

Minister of Economic Development and Trade Mohamed Saeed has stated that the trade agreement signed with Türkiye, will facilitate to connect Maldivian businesses with European markets. He made the statement while speaking at the ceremony to mark the expansion of Maldives Islamic Bank (MIB) services nationwide.

During the ceremony held at the President's Office, Minister Saeed shed light on the government's efforts to digitalise the economy. Highlighting the efforts exerted by the government to establish a system which will facilitate the export of local products to international markets, the minister stressed that several firms have been requesting to connect with global markets. He further emphasised that the government is working tirelessly to introduce e-wallets and other essential resources required to secure international markets. Under these efforts, the minister stated that Maldives and Türkiye entered an agreement, which play a pivotal role in bridging local businesses with European markets.

The Maldives and Türkiye signed a free trade agreement to strengthen trade relations, during President Dr. Mohamed Muizzu's official visit to Türkiye, in November 2023. The agreement will not only ease fish exports to Türkiye but also reduce trade barriers, bolster trade relations between the two countries, and facilitate increased bilateral trade.