Trade between the Maldives and China will increase to USD 1 billion per annum with the implementation of the Free Trade Agreement (FTA) between the two countries, said President’s Office Spokesperson Heena Waleed.
She said this at a press conference on Monday, where Heena remarked the FTA implementation between both countries will increase benefits for businesses and the public.
The two countries already engage in bilateral trade worth over USD 700 million per annum, Heena noted, and said that the FTA implementation would see this figure rise up to USD 1 billion. She further said that the agreement will also facilitate current account transactions using of both countries without relying on US dollars, direct investment opportunities, easing travel for Maldivians, and improve access to trade.