Maldives Industrial Fisheries Company Limited (MIFCO) has signed a Memorandum of Understanding with SINOMACH Hainan Development Co., Ltd. to explore new opportunities for exporting Maldivian frozen whole fish to China, strengthening prospects for the country’s fisheries sector in one of the world’s largest consumer markets.
The agreement was signed on Wednesday during the China–Maldives Investment Cooperation Forum by MIFCO Chief Executive Officer and Managing Director Mohamed Anas and SINOMACH Hainan Chief Advisor Ou Weiguo. The partnership will enable the two companies to assess market opportunities in China and explore potential supply arrangements for premium Maldivian fish products.
Under the MoU, MIFCO will serve as the prospective supplier, while SINOMACH Hainan will explore suitable market opportunities in China. The cooperation will also examine key commercial and technical areas including product quality, packaging standards, logistics, distribution requirements and regulatory compliance needed to facilitate future exports.
The two companies will additionally explore opportunities to increase export volumes from 2027 onwards, subject to the findings of the initial market assessment and the conclusion of subsequent commercial arrangements. The initiative could provide Maldivian fisheries with access to a broader customer base while supporting efforts to increase the value and international reach of locally sourced marine products.
The agreement comes as the Maldives continues to strengthen commercial relations with China following the entry into force of the China–Maldives Free Trade Agreement in January 2025. The framework is expected to support greater market access and create new opportunities for Maldivian exporters, particularly in sectors where the country has a strong international reputation.
Speaking at the China–Maldives Investment Cooperation Forum, President Dr Mohamed Muizzu highlighted the strong potential of premium Maldivian fisheries products in the Chinese market. He encouraged deeper cooperation in areas including fish processing, supply chains, distribution and market access, reinforcing the Government’s efforts to diversify export destinations and expand economic opportunities for the fisheries industry.
With Maldivian fish internationally recognised for its quality and sustainable fishing traditions, the proposed cooperation with SINOMACH Hainan could help position the country’s fisheries products more strongly in China and support the long-term growth of one of the Maldives’ most important productive sectors.
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