A competitive market for fish has emerged in the Maldives following a reduction in tariffs on fish exported to the United Kingdom, Fisheries, Agriculture and Ocean Resources Minister Ahmed Shiyam has said.

Responding to a question in Parliament, Minister Shiyam said the tariff reduction has provided Maldivian exporters with a 20 per cent advantage.

He said this has created an opportunity for companies to offer better prices to fishermen for their catch.

Shiyam said Horizon Fisheries, Ensis Fisheries and MIFCO are now purchasing fish directly from fishermen at better prices, contributing to increased competition in the market.

“We all acknowledge that a truly competitive market for fish has been created,” the minister said.