Xiamen-based export-oriented enterprises to benefit from China-Maldives FTA

Enterprises in Xiamen that export to the Maldives will enjoy zero tariff or preferential tariff cut as China and the Republic of Maldives signed the Free Trade Agreement (FTA) on December 7th. After the agreement comes  into effect, the Maldives will impose zero tariffs on 95.6% of products imported from China, including 97.3% of industrial products, as well as flowers and vegetables, processed fish products and other aquatic products.

At present, Xiamen’s mainexports  to the Maldives are baby diapers, fresh radishes, cans and ceramic tiles. This means most export-oriented companies will benefit from the newly signed FTA.

 
The agreement is conducive to improving the competitiveness of Xiamen’s exports and will help the city’s export-oriented enterprises develop a new market. According to statistics, the total export volume of Xiamen enterprises to Maldives in 2016 was 3.8 million U.S. Dollars, while in the first ten months of this year, the total export volume was 1.86 million U.S. dollars.