Turkey-Maldives Opens New Free‑Trade Window with 404 Tariff‑Advantaged Products

The Preferential Trade Agreement (PTA) signed on 4 November 2024 in Istanbul between Turkey and the Maldives grants Turkish exporters a tariff advantage across 404 product categories, while fully eliminating the 16% customs duty on 293 tariff lines for the Maldives.

Tariff Advantage Across 404 Products

■Iron‑steel, aluminum sheets, electrical components

■Refrigerators, air conditioners, televisions

■Marine vessels, furniture, plastic goods

■Cosmetics, chocolate, confectionery, sausages

■Fish fillets, sauces

Special Exemptions for the Maldives

■Fish meal, swordfish, cold‑water shrimp among 154 tariff lines receive tax cuts or exemptions

■Existing 111 tariff lines maintain their benefits

Economic Highlights

■Last year’s trade volume: $69 million

■Official Gazette approval on 19 December 2025 strengthens the trade infrastructure

■Maldives’ average customs duty of 16% is now fully waived

Political Signals

■President Recep Tayyip Erdoğan’s export‑focused vision

■Trade Minister Ömer Bolat’s social‑media statement: “Turkey will gain easier access to the strategic markets of the Indian Ocean.”

Markets view this pact as part of Turkey’s broader free‑trade strategy, potentially generating new growth in the steel and electronics sectors and supporting a projected 20‑25% rise in export volumes by the end of 2025.