Economic Minister Mohamed Saeed had flown on Tuesday night for the discussion between Hong-Kong and Maldives to finalize a free trade agreement between the two states.
Minister Saeed will take part in the final discussions to setup a noteworthy free trade agreement between Hong-Kong, one of the prime importers to Maldives during his visit to the state. Meanwhile Maldives had signed a similar FTA with Asian giant China which would see the economic superpower gracing the Indian Ocean archipelago with several business investments.
Once the FTA between Maldives and China become effective officially, the former will receive the benefit of importing fish, seafood and seafood related products to China with duty exemptions.
The agreement also cites the duty exemption on fish, fish products, and 27 different types of seafood products on Chinese tariff schedule within a five year span. Maldives will also receive the advantage of exporting a total of 296 different products related to fish and seafood products.
