No discussions with Sri Lanka on forming Commercial Duty Free Zone: Maldives

Minister of Economic Development and Trade of the Maldives Mohamed Saeed has dismissed media reports that his country is in discussions with Sri Lanka to develop a commercial duty free zone.

Certain media outlets have reported that Maldives and Sri Lanka are in discussions to form a free economic and free movement zone, saying that if confirmed, it would be the most historical economic agreement between two countries in the region.

Under such an agreement, residents of both countries would be able to travel to the other without the need for visas or work permits, engage in work, studies, earn property, conduct business, and seek public services, the reports said.

However, Minister Saeed stated in a post on X that these reports are inaccurate. He confirmed that no such agreements are under discussion nor have been proposed.

The reports in media meanwhile claim that President Anura Kumara Dissanayake will be visiting Maldives in July for discussions related to this agreement.

They further report that discussions have been held to exempt duty and taxes from all goods traded between the countries, and to establish a bilateral Free Economic Zone (FEZ) and Common Customs Union.

- With Agencies input