Minister: Free trade agreement with China will be signed by June

Minister of Economic Development of Maldives, Mohamed Saeed has announced he was hopeful a free trade agreement between Maldives and China will be signed by June, this year.

Minister Saeed made the remark this Monday while speaking to press after inauguration of World Trade organization’s workshop to State agencies and companies, associations, universities and colleges on trade negotiation capacity.

Speaking to press, Minister Saeed said all negotiations between the two governments for the free trade agreement was now complete, and that both parties were now finalizing details.

“It’s our hope that, god willing, its signed by June this year,” said Saeed.

Minister Saeed said that the purpose of the free trade agreement was to increase convenience of exporters and push down the price.

He said that it would be especially beneficial to fishermen and parties which export Maldivian fish products.

Saeed said both Japan and USA had also been offered opportunity for a free trade agreement with Maldives. But he did not provide any further details on the subject.

Ministry of Economic Development reports that the main purpose of the WTO-run workshop was to instruct Maldivian institutions, companies and businesses on how to negotiate for trade agreements and develop the skill and capability in the country.

Participants of the workshop will be educated on free trade, WTO, multilateral trading systems, regional trading systems, and WTO’s guidelines on multilateral and regional trade agreements.

Ministry of Economic Development reports that 64 stakeholders are taking part in the workshop, taking place in Customs Building in Male' City.