President Mohamed Nasheed has today ratified the ninth amendment Bill to Act number 31/79 (Export Import Act), which was passed by the People’s Majlis on 21 November 2011.
The bill has been published in the Government Gazette.
With the new amendment, only a party registered at the Ministry of Economic Development has the right to export, import or re-export in the Maldives.
The Act now also states that zero rate duty applies to all construction goods, environment friendly goods, fertilizers, and machinery run on renewable energy. Duty has also been removed on all food items, except those that can be produced in the Maldives.