Discussions have taken place on establishing a currency settlement agreement between the Maldives and China for trade with Rufiyaa and Yuan.
Economic Minister Mohamed Saeed is currently in China. He met with China's Minister of Commerce Wang Wentao yesterday. The meeting took place on the sidelines of the World Economic Forum ongoing in Beijing.
“During the meeting, discussions took place on completing processes needed to start implementing the Free Trade Agreement signed between the Maldives and China as soon as possible and about establishing a currency settlement mechanism for easy trade between the Maldives and China,” the Economic Ministry said in a statement.
An agreement on strengthening trade relations was among 20 agreements signed during President Dr. Mohamed Muizzu’s state visit to China with a high-level government delegation in January.
The Economic Ministry signed four agreements with China. Minister Saeed signed the agreements on behalf of the Maldives. However, the agreements have been classified.
