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Maldives-China free trade pact talks enters final round

The proposed free trade agreement between Maldives and China has now entered the final round of negotiations, government said Wednesday.

The negotiations kick-started in Bandos Island Resort on Wednesday would see both sides come to a mutual decision over the primary areas of the agreement.

Maldives and China entered into free trade talks in 2014 and had held four rounds of discussions.

Maldives is seeking tax exemption from all food and seafood products exported from the archipelago to China, which according to the government includes over 400 local products currently in the market.

China had also conducted research earlier this year into the potential advantages of entering such a deal with the island nation.

Government had announced plans to sign the agreement in June this year.

Maldives and Hong Kong are also engaged in talks to establish a similar agreement.
The free trade deal with China will mark the first time Maldives to enter into such an agreement with an individual country.

The island nation had earlier entered a regional agreement with South Asian Free Trade Area (SAFTA) which includes all South Asian Association for Regional Cooperation (SAARC) countries.