Economy Agriculture

30 days: Slash import duty for agricultural products

November 18, 2018
Achieved
Dec 2018

President ratifies two amendment bills to the Export Import Act

PSM News December 20, 2018

President Ibrahim Mohamed Solih has ratified two amendment bills to the Export Import Act of Maldives. The amendment bills ratified by the President are the 15th Amendment to the Export Import Act of Maldives, passed by the Parliament at the 20th sitting of the third session of the Parliament, and the 16th Amendment to the Export Import Act of Maldives, passed by the Parliament at the 21st sitting of the third session of the Parliament. Following ratification of the 15th Amendment to the Export Import Act of Maldives, import duty has been waived from goods imported for agricultural needs that have been predetermined by the respective ministry. Following ratification of the 16th Amendment to the Export Import Act of Maldives, import duty has been waived from diesel used in fishing vessels. Both revisions reflect the administration’s goals pledged to be fulfilled in its first 100 days.

Dec 2018

Parliament passes bill to abolish import duty on agricultural items

Raajje MV December 11, 2018

The parliament has passed the bill to abolish important duty on agricultural equipment and material. The bill to amend the import-export law was passed at Tuesday’s sitting.

Abolishing the import duty on agricultural items is a pledge of President Ibrahim Mohamed Solih.

After proposing the bill on Monday, Maradhoo MP Ibrahim Shareef said that President Solih aims to expand the Maldives economy and make it benefit as many people as people and the purpose of the bill is to provide more opportunities to develop the agricultural sector, which is vital to the country’s economy. After it was reviewed by the committee, the bill passed with 56 MPs voting in favor.