A Memorandum of Understanding has been signed between State Administration for Market Regulation of People’s Republic of China and Maldives Ministry of Economic Development.

The signing event took place at Hotel Jen on Monday and the MoU was signed by Economic Minister Fayyaz Ismail on behalf of Maldives and Minister Zhang Mao on behalf of China.

Under the agreement, more work will be carried out to enhance and strengthen the ties Maldives has with China, revealed Minister Fayyaz. As such, the MoU on cooperation was signed to promote small and medium-sized enterprises under the standard and consumer protection procedure.

High-level meetings have been scheduled to implement the memorandum. As such, the ministry is to host conferences and workshops to hold extensive discussions on how ties may be enhanced between Maldives and China.

Further, officials and experts from both countries will be visiting each other and conducting training programs.