New cargo terminal at Velana airport will foster re-export market in Maldives
February 4, 2018: Maldives Economic Minister, Mohamed Saeed recently said that construction of a bigger cargo terminal at the Velana International Airport will open up the gateway for a re-export market in the Maldives.
At a time when Maldives is fast entering into free trade agreement (FTA) with various countries, the new cargo terminal will further add fillip to the growth of air cargo.
According to Maldives Airports Company Limited (MACL), after the expansion of the cargo terminal, about 120,000 tonnes of air cargo is expected to be processed every year at the Velana International Airport.
Saeed said: “While air cargo would be coming to the Maldives, a chunk of it will be re-exported to other countries.”
With a FTA signed with China, Maldives can now export seafood produces with zero percent duty, which would directly benefit the Maldives economy.
The proposed cargo terminal at the Velana International Airport will have a special jetty. The project has been contracted to Beijing Urban Construction Group (BUGG).
Meanwhile, the contract to build the second runway along with a new fuel farm has been awarded to BUCG.