The Maldives government has begun efforts to establish a Comprehensive Economic Partnership Agreement (CEPA) with the United Arab Emirates, a move expected to provide significant trade and commercial concessions for the country.
Speaking on PSM’s “Raajje Miadhu” programme, Chief Spokesperson at the President’s Office Mohamed Hussain Shareef, widely known as Mundhu, said negotiations between the two countries are currently at an advanced stage.
According to the spokesperson, discussions are being carried out between the Ministry of Economic Development and Trade and the UAE Ministry of State for Foreign Trade.
Describing the proposed agreement as comparable to a Free Trade Agreement (FTA), Mundhu said the CEPA framework represents one of the strongest market access arrangements utilized by the UAE with international partners.
“It is practically a Free Trade Agreement. It is the strongest market-access agreement utilized by the UAE,” he stated.
The spokesperson explained that the agreement is expected to reduce tariffs and remove various trade barriers currently affecting exports and market access.
A key priority for the Maldives under the proposed agreement is securing easier access for Maldivian tuna exports into the UAE market.
Mundhu highlighted that the Maldives continues to market its fisheries sector aggressively based on its global reputation for sustainable and environmentally friendly pole-and-line fishing practices.
The development comes shortly after the United Kingdom announced the suspension of tariffs on Maldivian tuna imports for a two-year period, a move widely welcomed by the fisheries sector.
According to government officials, the administration is continuing efforts to strengthen economic and trade relations with countries around the world in order to expand overseas opportunities for Maldivian products.
Officials believe agreements such as the proposed CEPA with the UAE could significantly strengthen export competitiveness, particularly for the country’s fisheries industry, which remains one of the Maldives’ most important economic sectors outside tourism.
