Maldives

China-Maldives free trade pact possible to renew 'Indian trade era'

Dec 5, 2017
By Mohamed Rehan
 
Maldives Trade Union (MTU) has expressed concern of possible transitioning of Maldives back to the Indian 'Vora' traders' era over the current progress in Maldives-China free trade agreement.
 
The organization had released a press statement on Saturday highlighting on the possibility of Chinese markets taking over local small and medium businesses in the goods and merchandise import and export field. Maldives is currently attempting to conclude arrangements with China on a free trade agreement which will see several of China based companies attempting trading goods and opening services which could undermine several local competitions.
 
The Trade Union had referred to the era of Indian traders taking domestic market control in Maldives and the years of challenging attempts made by the local government to retain control and transfer it back to local businessmen - citing how the whole event had already been precedent.
 
MTU argues that free-trade agreements are conventionally made between countries entertaining similar economical growth or stability, highlighting on the contrasting difference in the economies of China and Maldives.
 
The union had warn the possibility of China monopolizing the domestic market due to their larger control on world economy.
 
MTU had further criticized the government and pointed out the hypocrisy in claiming opportunities for local small and medium tier businesses but opening those markets to China - which could harm local competition gravely.
 
Avas Online, December 5, 2017

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