The Maldives government has denied reports that efforts were under to establish a free economic zone between the Maldives and Sri Lanka.
Last week, Sri Lankan media reported that efforts were underway to establish a free Economic Zone and Free Movement Zone.
In a post on X on Friday, Economic Minister Mohamed Saeed denied the reports and said such a plan has not yet been discussed or considered.
Sri Lankan media reported that the agreements will apply to customs, education, health and banking and that discussions had already been held.
Rights granted to citizens of both countries under the agreements:
- No visa is required. Citizens will have the right to do business.
- Citizens will have the right to buy and rent property and trade in real estate.
- State education, health services and other public services.
- Double taxation will be abolished and taxes will be aligned.
- Students, academic individuals and research students will be entitled to travel without a visa.
Meanwhile, Sri Lankan President Anura Kumara Dissanayake is scheduled to visit the Maldives in the last week of July.
