Muizzu bats for Maldives-China FTA signed in 2014, says implementation will benefit economy

President Mohamed Muizzu of the Maldives backed a free trade agreement between Male and Beijing on Monday, three weeks after returning from a state visit to China. He claimed the agreement will boost the economy of his nation. The Free Trade Agreement (FTA) between China and the Maldives was not implemented by Muizzu’s predecessor, pro-Indian President Ibrahim Mohamed Solih, under the government of pro-China President Abdulla Yameen in December 2014. In his first speech as president on Monday, Muizzu stated, “The implementation of the FTA signed by Maldives with People’s Republic of China will provide a myriad number of benefits to Maldivian businesses and to the economy.” “Therefore, I am confident that this Parliament will support the completion of the legal procedure for the entry into force of this Agreement. My hope is that free trade agreements with several other countries will be signed and implemented during this period,” he added. Earlier in January, Muizzu stated during his official state visit to China that his administration is dedicated to implementing the Free Trade Agreement (FTA) with China as soon as possible, viewing it as a representation of the close commercial connections that exist between the two nations. Muizzu emphasized the Free Trade Agreement (FTA) between China and the Maldives in his speech at the ‘Invest Maldives Forum in China’ on January 9. He stated that the FTA would increase bilateral trade and investments, especially by increasing the export of fish products to China, indicating that this is a major priority investigated within the FTA. Muizzu, who is regarded as a pro-China politician, said the Forum that his administration is concentrated on expanding the Maldives’ economic basis, guaranteeing economic security, and bolstering exports from Maldives. China has supported the Maldives’ ever since the two countries established diplomatic ties in 1972. Following a high-level meeting to assess the status of the Greater Male Connectivity Project (GMCP), also known as the Male to Thilafushi link project, which India is funding, India stated on January 29 that it is dedicated to collaborating closely with the Maldivian government to expedite the project’s implementation. This is the largest infrastructure project in the island nation. The goal of this USD 530 million infrastructure project is to provide a direct route between Thilafushi, an island in the southern Indian Ocean, and the capital city of the Maldives.