President Ibrahim Mohamed Solih recently announced that Maldives will soon receive duty-free access for its fish exports to Europe and the United Kingdom. The statement was made at a ceremony in Addu City to conclude his primary election campaign.
President Solih highlighted that his administration has been working diligently to develop the fisheries sector by increasing fish processing capacity fourfold and pledged to double the capacity of the fish processing plant in Hulhumeedhoo in Addu. He also mentioned that the biggest concern for Maldivian fisherman is the duty levied on fish exports, which prevents them from selling their catch at an adequate price.
He added that Europe and the UK levy a 24% duty on Maldivian fish products, while no duty is levied on other Indian Ocean countries. The President emphasized that the Maldives will soon receive duty exemptions, as previously, Maldives has exported fish to Europe without duty, but it was levied after the Maldives transitioned from a developing country to a middle-income country.