The UK has officially removed the 20% import duty (tariff) previously levied on Maldivian tuna products imported into the country, effective today.
The UK announced that this duty has been suspended from today until the end of 2028. This decision is a historic one that brings an end to a major financial challenge faced by Maldivian fishermen following the Maldives' graduation from the list of Least Developed Countries. It is also the result of important discussions held between the two countries over many years. Senior government officials have described this decision as a significant achievement for the Maldives in the area of sustainable trade, and a major boost for the Maldives' main export industry.
Key benefits of removing the tariff:
Increased income for fishermen: With the removal of the 20% duty, the benefits of selling fish in the UK market will directly reach Maldivian fish processing factories and fishing families.
Maintaining UK market share: The UK is the largest export destination for the Maldives' premium fish products. Statistics show that the UK market accounts for over 50% of the Maldives' canned fish exports.
Gaining an edge in a competitive market: This decision will pave the way for high-quality fish products caught through the Maldives' environmentally friendly pole-and-line fishery to be sold at competitive prices alongside products from other countries in UK supermarkets. Previously, Maldivian products faced challenges in the market due to tariff concessions enjoyed by some other countries.
The Ministry of Fisheries has warmly welcomed this decision by the UK. The Ministry also noted that this is the result of strategic efforts undertaken under the wise leadership of President Dr. Mohamed Muizzu.
