MIFCO signs MoU to explore frozen fish exports to China

Maldives Industrial Fisheries Company Limited (MIFCO) has signed a Memorandum of Understanding with SINOMACH Hainan Development Co., Ltd. to explore opportunities to export Maldivian frozen whole fish to China.

The agreement was signed on Wednesday during the China–Maldives Investment Cooperation Forum by MIFCO Chief Executive Officer and Managing Director Mohamed Anas and SINOMACH Hainan Chief Advisor Ou Weiguo.

Under the MoU, the two companies will assess market opportunities in China and explore potential supply arrangements for Maldivian fish.

The cooperation will also cover product quality, packaging, logistics and regulatory requirements needed to facilitate potential exports to the Chinese market.

MIFCO would serve as the prospective supplier, while SINOMACH Hainan would explore market opportunities in China.

The companies will also explore opportunities to increase export volumes from 2027 onwards, subject to the outcome of the initial assessment and subsequent commercial arrangements.

The MoU was signed as the Maldives seeks to expand commercial links with China following the entry into force of the China–Maldives Free Trade Agreement in January 2025.

Speaking at the China–Maldives Investment Cooperation Forum on Wednesday, President Dr Mohamed Muizzu highlighted the potential of Maldivian premium fisheries products in the Chinese market and called for greater cooperation in processing, supply chains, distribution and market access.