The Preferential Trade Agreement between the Maldives and Türkiye, which officially entered into force on 1 August 2026, is expected to strengthen bilateral trade, expand market access and create new opportunities for Maldivian businesses, particularly small and medium enterprises.
Business Centre Corporation Managing Director Ibrahim Ziyau Mohamed described the agreement as an important achievement reflecting President Dr Mohamed Muizzu’s economic vision and the government’s commitment to strengthening the Maldives’ international trade relations. He said the agreement demonstrates the administration’s focus on diversifying the economy, expanding commercial partnerships and creating a more competitive environment for local enterprises.
According to Ziyau, the agreement is expected to deepen economic cooperation between the Maldives and Türkiye while providing businesses in both countries with improved opportunities to participate in bilateral trade. The framework is also anticipated to encourage stronger commercial engagement, facilitate the exchange of goods and promote closer cooperation between private-sector stakeholders.
The agreement is particularly significant for Maldivian small and medium enterprises, which play an essential role in employment creation, innovation and local economic development. Improved access to the Turkish market is expected to help eligible Maldivian businesses explore new commercial opportunities, broaden their customer base and strengthen their capacity to compete internationally.
Ziyau said the agreement would provide SMEs with greater opportunities to grow, innovate and participate more actively in international commerce. It is also expected to encourage local businesses to improve product quality, strengthen operational standards and develop goods that can meet the requirements of overseas markets.
The Preferential Trade Agreement supports the government’s broader objective of developing an export-oriented economy and reducing the country’s dependence on a limited number of economic sectors. By improving the integration of Maldivian enterprises into global trade networks, the agreement is expected to contribute to more sustainable and diversified national economic growth.
Stronger trade relations with Türkiye may also provide Maldivian businesses with access to a large and commercially diverse market. Türkiye’s established manufacturing, logistics, construction, food production and consumer goods sectors offer potential areas for expanded business cooperation, knowledge exchange and private-sector partnerships.
The agreement was signed in November 2025 following negotiations conducted during President Muizzu’s first official visit to Türkiye. The signing reflected the growing relationship between the two countries and their shared interest in strengthening cooperation in trade, investment and economic development.
Following the signing, both governments completed the required domestic legal procedures and exchanged their final written notifications, enabling the agreement to officially enter into force on 1 August 2026.
The implementation of the agreement represents another step in the government’s efforts to establish stronger international economic partnerships and improve opportunities for Maldivian entrepreneurs. It is expected to support the development of competitive local industries, encourage greater private-sector participation and position Maldivian businesses to benefit more effectively from regional and global markets.
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