The Preferential Trade Agreement between the Maldives and Türkiye officially entered into force on 1 August 2026, strengthening bilateral economic cooperation and creating broader opportunities for trade, investment and commercial engagement between the two countries.
The implementation follows the completion of all required domestic legal procedures by both governments and the formal exchange of written notifications confirming their readiness to bring the agreement into effect. The agreed implementation date marks an important advancement in the Maldives’ efforts to diversify international trade partnerships, improve access to major overseas markets and strengthen the resilience of the national economy.
The agreement reflects the growing relationship between the Maldives and Türkiye under the leadership of President Dr Mohamed Muizzu and Turkish President Recep Tayyip Erdoğan. President Muizzu selected Türkiye as the destination for his first official overseas visit after assuming office, travelling to the country from 26 to 29 November 2023.
During the visit, the two leaders held discussions on strengthening bilateral relations, with particular attention given to expanding trade, attracting investment and developing mutually beneficial economic partnerships. The high-level engagement provided the foundation for further negotiations, leading to the signing of the Maldives–Türkiye Preferential Trade Agreement in November 2024.
Under the agreement, import duties on 75 selected products will either be fully removed or substantially reduced. These tariff concessions are expected to improve the competitiveness of goods traded between the two countries, reduce barriers faced by businesses and encourage greater private-sector participation in bilateral commerce.
One of the most significant benefits for the Maldives is the preferential access provided for Maldivian seafood exports to the Turkish market. Türkiye has a population of approximately 85 million people, offering the Maldivian fisheries sector access to a large and commercially valuable consumer base.
The agreement is expected to support the expansion of the Maldives’ fisheries exports, strengthen the international presence of Maldivian seafood products and create additional opportunities for fishermen, processors, exporters and businesses operating throughout the fisheries value chain. Improved market access could also encourage investment in processing, packaging, quality assurance, logistics and product development, enabling the industry to achieve greater value from its exports.
Türkiye is also an important producer and supplier of food products, manufactured goods and essential commodities. Through the preferential tariff arrangements, the Maldives will benefit from reduced duties on a range of basic food items and other important goods imported from Türkiye.
The Ministry of Economic Development, Transport and Trade stated that expanding the country’s import channels would support greater market stability and strengthen domestic economic resilience. Access to a wider range of international suppliers can help reduce dependence on a limited number of markets, improve supply security and provide businesses with more competitive sourcing options.
The agreement is also expected to contribute to efforts to manage the cost of essential goods by encouraging greater competition among importers and facilitating access to products under more favourable tariff conditions. These benefits could support households, retailers, wholesalers and other businesses while promoting a more reliable and diversified supply chain.
The Government has prioritised the development of international economic partnerships that deliver practical benefits to Maldivian businesses and communities. The implementation of the agreement demonstrates the administration’s commitment to strengthening export capacity, supporting local industries and securing dependable access to essential commodities.
The Ministry described the agreement as a foundation for shared prosperity and sustainable economic cooperation. It said the arrangement represents the commitment of both countries to building strong international trade relationships that support exporters, secure essential goods and promote inclusive, long-term economic growth.
The entry into force of the agreement is expected to further strengthen the Maldives–Türkiye partnership while creating a structured framework for businesses in both countries to explore new markets, develop commercial relationships and expand investment opportunities. It also positions the Maldives to benefit from Türkiye’s extensive manufacturing capacity, strategic geographic location and strong commercial links with Europe, Asia and the Middle East.
As businesses begin utilising the tariff concessions provided under the agreement, bilateral trade is expected to grow progressively, generating new opportunities across fisheries, food distribution, logistics, retail, manufacturing and other sectors. The agreement reinforces the Government’s broader economic policy of diversifying trade, strengthening national industries and developing partnerships that contribute to sustainable prosperity for the Maldives.
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