Minister of Economic Development and Trade, Mohamed Saeed, has announced that the free trade agreement with China will come into effect in 20 days.
Under the agreement, duties on 70 to 90 percent of Chinese imports will be eliminated, leading to a significant reduction in costs for a variety of products.
Additionally, Minister Saeed highlighted that, beginning next year, imports from India will be payable in Maldivian Rufiyaa under the currency swap agreement with India. The government has also introduced India’s instant payment system, RuPay cards, under the Unified Payments Interface (UPI).
