Maldives trade law amendment to generate 38.9 mln USD

MALE, July 29 (Xinhua) -- The Recent amendments to a key trade law in the Maldives are likely to generate an additional 38.9 million U.S. dollars to the state, local media citing the Maldives Customs Service (MCS) reported here Wednesday.

MCS Senior Superintendent Ahmed Niyaz was quoted by state-owned PSM News as saying that amendments to the Maldives' Export-Import Act have affected duties on 1,600 items, adding 38.9 million U.S. dollars annually to state coffers, though only an additional 9 million U.S. dollars would be made in 2020.