The Government of the Maldives has signed a Preferential Trade Agreement (PTA) with Turkiye, marking a significant milestone in the implementation of key agreements reached during President Dr. Mohamed Muizzu’s first state visit to Turkiye in November 2023.

Minister Saeed signed the PTA on behalf of the Maldivian Government, while Prof. Dr. Ömer Bolat, Minister of Trade, signed on behalf of the Republic of Turkiye.

This agreement materializes one of the primary objectives discussed during President Dr. Muizzu's meetings with Turkish President Recep Tayyip Erdoğan, where both leaders emphasized strengthening bilateral economic cooperation. The PTA aims to enhance trade relations between the two nations by reducing barriers to commerce and creating favorable conditions for increased bilateral trade.

The Preferential Trade Agreement is set to significantly enhance bilateral trade volumes between the Republic of Maldives and the Republic of Turkiye. Under this agreement, considerable tariff concessions is available for the Maldivian fisheries sector, enabling fish exporters to access and expand their operations in the Turkish market. Additionally, Maldivian consumers and businesses will benefit from access to Turkish products at significantly lower prices.

This agreement represents a concrete step forward in implementing the broader vision of cooperation discussed between President Dr. Muizzu and President Erdoğan, encompassing areas such as trade, investment, renewable energy, and higher education, further solidifying the strong partnership between both nations.

The Maldives and Turkiye have enjoyed a strong relationship over the years, and this PTA further solidifies that partnership, positioning both countries for enhanced economic collaboration in the future.