Thirteen Maldivian businesses have completed registration with China’s General Administration of Customs, enabling them to export fish products to the Chinese market under the Maldives–China Free Trade Agreement (FTA), the Ministry of Economic Development and Trade has said.

The FTA, which is the first free trade agreement ratified by the Maldives, came into force on 1 January 2025 and has opened new trade and investment opportunities between the Maldives and China. The Ministry said the agreement is expected to benefit local exporters, businesses and consumers by improving market access and easing trade barriers.

Speaking to State media, Consultant at the Ministry of Economic Development and Trade, Shuhad Ibrahim, said the fisheries sector is among the key beneficiaries of the agreement. He noted that registration with Chinese customs allows Maldivian exporters to move beyond the sale of raw fish and instead focus on processing and adding value locally before export, increasing income and profitability for businesses.

He said the registration process enables Maldivian companies to access the Chinese market directly, creating new commercial opportunities for fisheries producers and exporters. He added that the agreement opens space for more creative and diversified business models within the fisheries value chain.

China is one of the world’s largest manufacturing hubs and a major source of imports to the Maldives. The Ministry said the FTA is expected to reduce the cost of certain goods imported from China, providing price relief to consumers.

The Ministry also said the agreement is expected to support the expansion of export and re-export activities, encourage local processing of fisheries and other products, and stimulate new business ventures. The Government expects increased Chinese investment under the FTA framework to contribute to economic growth and job creation in the Maldives.