A new chapter in Maldives–Türkiye economic relations begins today. 🇲🇻🇹🇷
The Maldives–Türkiye Preferential Trade Agreement is now in force, creating new opportunities for trade, businesses, and economic growth in both countries.
#MTPTA@MMuizzu@RTErdogan@em_saeed@omerbolatTR@ticaret
Tune in at 20:45 tonight as Hussain Zamir, Minister of State for Economic Development, Transport & Trade, joins MMTV's Bodu Khabaru to discuss the entry into force of the Maldives–Türkiye Preferential Trade Agreement and the opportunities it creates for bilateral trade and economic cooperation.
#MTPTA
Money shouldn’t take days to cross an ocean near us.
Now it takes seconds. 🇲🇻➡️🇮🇳
MMA is pleased to announce the successful go-live of the integration between the Favara and UPI.
TR:
Türkiye-Maldivler Tercihli Ticaret Anlaşması (TTA) Onay Süreci Hakkında Basın Açıklaması
ENG:
Press Release on the Preferential Trade Agreement (PTA) between Türkiye and the Maldives
(01.08.2026)
Today, 1 August 2026, the Maldives–Türkiye Preferential Trade Agreement (MTPTA) enters into force; a significant milestone in the economic and trade relations between our two nations, and a moment that builds on the shared vision of H.E. President Dr. @MMuizzu and H.E. President @RTErdogan.
The Agreement exchanges preferential tariff concessions across 75 tariff lines, opening enhanced market access for Maldivian fisheries exports to a market of over 85 million consumers, while giving Maldivian businesses wider access to Turkish products and essential commodities.
Looking forward to building on this momentum to deliver deeper economic cooperation and lasting mutual prosperity for the people of both our countries.
@MoEDmv@omerbolatTR@ticaret
Business Center Fuvahmulah conducted a BCC introductory session, providing participants with an overview of the services offered by Business Center Corporation, information on the upcoming Hiyala Market, and participation opportunities for the Maldives Business Expo 2026.
From leadership’s vision, policy agreement to real-world implementation.
The UPI-Favara linkage will transform trade, travel & cross border remittances. Looking forward to expanding this digital highway to merchant QR codes, B2B systems soon & furthering economic ties!
🇮🇳🤝🇲🇻
The launch of UPI integration marks an important milestone in advancing digital and financial connectivity between the Maldives and India. As one of the world’s largest and most widely used real-time payment systems, UPI will make cross-border transactions faster, more secure, and more affordable.
This achievement reflects the shared vision of the two leaders, reaffirmed during their respective State Visits, to deepen economic cooperation and enhance connectivity between the Maldives and India through practical, people-centric initiatives.
For Maldivian citizens, it means easier remittances and payments. For entrepreneurs and businesses, it creates new opportunities for seamless cross-border commerce, supporting trade, tourism, and investment.
As the integration expands to include merchant and B2B payments, it will further strengthen economic linkages and complement the proposed India Maldives Free Trade Agreement (IMFTA), creating greater opportunities for businesses and communities in both countries.
@PiyushGoyal@HCIMaldives
Maldives–India
A major milestone in strengthening Maldives–India economic cooperation.
The first phase of the Favara–UPI integration is now live with the launch of Foreign Inward Remittances (FIR), enabling people in the Maldives to send money to individuals in India instantly, securely, and at lower cost.
This milestone reflects the shared vision of His Excellency President Dr.@MMuizzu and Hon’ble Prime Minister @narendramodi to deepen economic cooperation, enhance digital connectivity, and strengthen people-to-people ties.
Next, the platform will introduce instant payments from India to the Maldives, followed by QR code merchant payments, allowing Indian visitors to pay Maldivian businesses seamlessly and supporting the tourism sector.
Looking ahead, we aim to expand the platform to include B2B payments, further strengthening bilateral trade and supporting the proposed India–Maldives Free Trade Agreement (IMFTA).
@HCIMaldives@MDVinINDIA