Updated on May 06, 2025 02:36:56 PM
The SAFTA Certificate for Maldives is an essential document for businesses that want to take advantage of the trade benefits offered under the South Asian Free Trade Agreement (SAFTA). As a member of the South Asian Association for Regional Cooperation (SAARC), Maldives participates actively in this regional free trade initiative. The South Asian Free Trade Agreement Maldives framework is designed to promote economic cooperation by reducing trade barriers and granting preferential tariff rates to member countries. Businesses that hold a valid SAFTA Certificate for Maldives can export and import goods across SAFTA nations while enjoying lower tariffs or even duty-free access.
The key advantage of obtaining the SAFTA Certificate lies in accessing SAFTA trade benefits for Maldives, including lower taxes on eligible goods. These benefits apply to both exporters and importers who engage in SAFTA import-export Maldives activities. Companies need to ensure that their products are included in the Maldives SAFTA eligible products list, as only these goods qualify for reduced tax rates under the agreement. Understanding how to get SAFTA Certificate for Maldives is crucial for businesses looking to expand their trade footprint within the South Asian region.
By leveraging the free trade agreement Maldives provisions under SAFTA, Maldivian businesses can enhance their competitiveness, lower costs, and access broader regional markets. The SAFTA Certificate is, therefore, a vital tool for facilitating smoother trade and boosting economic growth.
The SAFTA certificate is a document that is issued according to the rules of the SAFTA which is the South Asian Free Trade Area agreement that seeks to improve tariffs on trade between member states of the South Asian Association for Regional Cooperation (SAARC). This certification proves that the products exported from SAARC nations (for example India, Bangladesh, Nepal, etc.) were actually manufactured in that country and hence can qualify for either lesser or no taxes in the importing country. The SAFTA Certificate of Origin is issued by authorized agencies to guarantee compliance with the rules of origin criteria, strengthen regional trade, minimize costs, and contribute to competitiveness. It has a significant role in enhancing trade relations and cooperation among the SAFTA countries.
The South Asian Free Trade Area (SAFTA) Certificate provides Maldives with several economic and trade advantages. Here are the key benefits of the SAFTA Certificate for Maldives:
The SAFTA Certificate, also known as the Certificate of Origin, is classified into two main categories:
The SAFTA certificate has been developed to facilitate exporters to claim tariff preferences under the terms of the SAFTA agreement to enhance trade within the SAARC member countries. It plays the role of documenting the origin of goods and recalling them to stick to the standard set by trade laws. This helps in increasing exports since it cuts tariffs, increases market opportunities for exports, and cements trade relations among the member countries.
The SAFTA registration process encompasses the subsequent stages:
To obtain a SAFTA (South Asian Free Trade Area) Certificate, the following documents are typically required for the registration process:
Note: In the case of tea, exporters who are required to submit Certificate of Origin (Non Preferential) are to apply to the Tea Board or any Inspection Agency authorized by the Tea Board along with documents listed above.
The total cost for SAFTA registration is ₹6,235, covering a ₹736 government fee, ₹500 one-time registration fee, ₹2,000 application fee, and ₹2,999 professional fee, ensuring a smooth registration process. Below is the detailed structure:
| Particulars | Cost |
|---|---|
| Government fee | 736 |
| One-time registration fee | 500 |
| Application fee | 2,000 |
| Professional fee | 2,999 |
| Total cost of registration | 6,235 |
Once they meet the requirements of the origin goods under SAFTA, the SAFTA Certificate is normally provided within 2 to 3 working days after shipment or exportation. However, in special circumstances, if not issued on time, it may be issued within 45 days from the date of request, but it must be marked as ‘Issued in Arrears’.
The SAFTA registration process is a one-time process, and the certificate is valid for a year from the date of registration.
Conclusion
Getting an SAFTA Certificate is important, for the Maldivian companies due to the increased opportunity for reduced tariffs and better, exclusive market access in the SAARC countries. By following the provisions of the SAFTA and getting the certificate, it becomes possible to reduce export costs by simplifying the customs documents and procedures, as well as improving its competitive position in the region. The registration process is relatively easy, and it does not take too long to register; also, the registration fees are modest. The SAFTA Certificate will be beneficial to Maldivian businesses as they can use it to expand their market and increase the regional trade of goods and services.
At Professional Utilities, we leverage our industry knowledge and expertise to help businesses navigate complex regulations, minimize risks, and optimize operations for maximum efficiency and profitability.
Frequently Asked Questions (FAQs)
Apply to an authorized agency in your country by submitting export documents, commercial invoice, and proof of origin to receive the SAFTA certificate.
Designated government authorities or agencies like Export Inspection Council (EIC) in India issue SAFTA Certificates of Origin after verifying export documents and origin compliance.
The cost varies between INR 600 to 1,000 per certificate in India, depending on the issuing agency and the specific documentation requirements.
SAFTA Certificates of Origin are issued by all SAARC member countries including India, Bangladesh, Nepal, Bhutan, Maldives, Pakistan, Afghanistan, and Sri Lanka.
There are eight member countries in SAFTA: Afghanistan, Bangladesh, Bhutan, India, Maldives, Nepal, Pakistan, and Sri Lanka under the SAARC framework.
Exporters apply through authorized agencies like EIC or Chamber of Commerce by submitting necessary export documents proving goods originate in India for certification.
SAFTA offers preferential tariff concessions, promotes regional trade, strengthens economic cooperation, reduces trade barriers, and enhances export opportunities among South Asian countries.
Most importing countries require a Certificate of Origin, including SAFTA countries, to verify goods’ origin for tariff concessions or to meet trade regulations.
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