Terms of Trade – Glossary

Trade is often seen as complex and difficult to understand, shaped by specialised terms and unfamiliar language. Tradian’s Terms of Trade campaign is designed to change that.

This campaign aims to define commonly used terms in the trade sector as part of our efforts to demystify trade and make it more accessible. After all, trade facilitation is about more than building systems; it’s also about building up the knowledge and skills of the people who will be engaging with said systems.

As such, this article will serve both as a companion to our Terms of Trade campaign and as an information resource for any interested parties even after the campaign concludes.

This growing glossary breaks down commonly used trade terms into clear, accessible definitions. 

It will continue to expand over time, serving as a practical reference for anyone looking to better understand the language of trade.

Glossary of Terms

• Cross-Border Regulatory Authority – Government agencies who are involved in various processes relating to international trade in the Maldives 

• LPCOs – A term used to describe some of the output documents of trade services that allow you to engage in certain business activities

• Vessel Registration – One time registration (to be completed by Shipping Agents) for all foreign-going vessels entering Maldivian territorial waters

• Vessel Registry – A ship's unique registration number detailing its nationality, owner, tonnage (how much it can carry), build year, and more

• General Arrangement Chart – A document required for Vessel Registration that consists of a blueprint of a vessel

• Maldives Custom Service – The Maldives Customs Service (MCS) regulates national border trade by enforcing import/export laws, collecting duties and taxes, and preventing smuggling or international crime

• Maldives Ports Limited – MPL is responsible for managing, operating, and developing the ports and harbors of the country, ensuring safe and efficient handling of maritime infrastructure across the country

• Ministry of Transport and Civil Aviation – MOTCA is the former government body responsible for formulating and implementing policies, regulations, and services related to transportation and civil aviation

• Vessel ETA/ETD — Key time markers submitted by shipping agents to notify authorities of a vessel’s expected arrival and departure at a Maldivian port

We hope you find this glossary of terms useful for your trade-related needs.

This list will be updated with more terms as they are published weekly so stay tuned!