Customs cleared goods worth MVR 1.9 million under the Free Trade Agreement (FTA) between China and Maldives which came into force on January 1.
In a post on X, Customs said nine shipments by air and three shipments by sea have been cleared under the FTA so far.
The value of the goods brought by air was MVR 882,381 while the value of the goods brought by sea was MVR 1,040,875.
Customs did not disclose the types of goods. This is the first Free Trade Agreement signed with a country in Maldives' history.
Under the agreement, 70 percent of Chinese imports are exempt from duty and the figure could rise to 90 percent in the future.
Additionally, 95 percent of Maldives' exports will be duty-free under the agreement.
According to the government, the current trade value between Maldives and China is USD 700 million but the figure is expected to rise to USD 1 billion with the FTA.
