The Maldives and China have formalised their Free Trade Agreement (FTA) in a ceremony today, setting the stage for its implementation on January 1, 2025. The agreement, signed by Maldivian Minister Mohamed Saeed in person and Chinese Commerce Minister Wang Wentao virtually, aims to strengthen economic ties by reducing trade barriers and providing market access opportunities. The pact is expected to boost bilateral trade from its current USD 700 million to USD 1 billion.