The Maldives could double its fish exports to the United Kingdom (UK) due to the UK’s tariff suspension on the Maldives’ fish products, the Chief Government Spokesperson Mohamed Hussain Shareef has said.
He made the remarks while speaking at the latest session of the Presser with the Spox series.
The Maldives currently exports around £17 million worth of fish annually to the UK.
According to the spokesperson, 90 percent of the Maldives’ exports to the UK are fish products. While the UK has temporarily suspended tariffs on Maldivian fish for two years, the move is expected to bring significant benefits, including paving the way to double exports to the UK.
The spokesperson expressed confidence that the tariff relief could increase market share. The Maldives’ main exports to the UK include canned tuna and value-added tuna products. He noted that Maldivian fisheries are sustainable and that the country’s products are globally accepted, including in the UK market.
The Maldives currently ranks ninth in the UK tuna market, and there is confidence that exports can be doubled within about 2.5 years.
The Maldives previously enjoyed tariff-free fish exports to the UK, but lost this advantage around 2012 as trade preferences such as GSP Plus were reduced or removed. Brexit and WTO-based changes also contributed to higher tariffs, at a time when several private companies were active in the sector. With the suspension of tariffs, these businesses are expected to expand again, the spokesperson said.
While the tariff suspension is set to expire at the end of 2028, the government is seeking to make the arrangement permanent, and plans further discussions with the UK to achieve this.