Economic Minister Hails Entry into Force of Maldives–Türkiye Trade Agreement

Minister of Economic Development, Transport and Trade Mohamed Saeed has welcomed the entry into force of the Maldives–Türkiye Preferential Trade Agreement (MTPTA), describing it as a major milestone in the economic and trade relations between the two countries.

In a post shared on X on Saturday, Saeed said the agreement, which officially took effect on 1 August 2026, reflects the shared vision of President Dr Mohamed Muizzu and Turkish President Recep Tayyip Erdoğan to strengthen bilateral economic cooperation.

“The Maldives–Türkiye Preferential Trade Agreement enters into force today, marking a significant milestone in the economic and trade relations between our two nations,” the Minister stated.

According to Saeed, the agreement provides preferential tariff concessions across 75 tariff lines, creating enhanced market access for Maldivian fisheries exports to Türkiye, a market of more than 85 million consumers.

He added that the agreement will also provide Maldivian businesses with broader access to Turkish products and essential commodities, further strengthening commercial ties between the two countries.

Expressing optimism about the future of bilateral relations, Saeed said he looks forward to building on the momentum created by the agreement to achieve deeper economic cooperation and lasting mutual prosperity for the people of both nations.

The Preferential Trade Agreement between the Governments of the Maldives and Türkiye was signed on 4 November 2024 and officially entered into force on 1 August 2026 after both countries completed the domestic legal procedures required under Article 25 of the agreement. Following the completion of these procedures, the two governments exchanged final notifications confirming that all legal requirements had been fulfilled.

The implementation of the agreement is expected to strengthen bilateral trade by providing preferential market access for selected goods, promoting greater trade flows, and creating new opportunities for businesses in both countries. It also forms part of the Maldives’ broader strategy to diversify its international trade partnerships and expand export opportunities, particularly for the country’s fisheries sector.