ISDS Case Map
Maldives
Maldives on Tuesday said it has begun efforts to establish a Chinese bank in the country and announced that the implementation of the FTA between the archipelago nation and China is set to commence in September.
The Maldives is facing a political divide over a newly signed Free Trade Agreement (FTA) with China. The government anticipates increased exports and economic growth due to duty exemptions on various products. However, the opposition MDP argues that the FTA will primarily benefit China, leading to an influx of Chinese goods and potential harm to local businesses.
Maldives President Mohamed Muizzu thanked India for its support of the island nation in easing its debt repayment and affirmed hope that New Delhi and Male would forge stronger ties and sign a free trade agreement.
The third meeting of the US-Maldives Trade and Investment Framework Agreement (TIFA) Council took place in Washington, DC.
Maldivian Minister Mohamed Saeed has said that India has initiated efforts to create a Free Trade Agreement with the island nation, and discussions on the same are ongoing.
The government of Maldives has welcomed the announcement by the government of the United Kingdom, to commence negotiations for a Free Trade Agreement between the two countries.
The fact that the China-Maldives Free Trade Agreement has not come into effect causes worries for the Chinese enterprises that intend to do businesses in Maldives, has stated the Chines Ambassador to Maldives.
Maldives Minister of Economic Development Fayyaz Ismail, asserted the incumbent administrations intention to review the free trade agreement signed with China during the presidency of Abdulla Yameen Abdul Gayoom.
Former President of the Maldives, and Speaker of the Parliament Mohamed Nasheed has stated that former president Abdulla Yameen Abdul Gayyoom did not want to implement the Free Trade Agreement between Maldives and China.
The Chinese envoy rejected the characterization of a 2017 free trade agreement between Male and Beijing by the incumbent speaker of the house and former president.
