Forum to discuss Lanka-Maldives bilateral issues vital
A high level business delegation from the Maldives visited Sri Lanka
with Maldivian President Abdulla Yameen last week.

The head table at the Sri Lanka-Maldives Bilateral Business
Council meeting. Pic: Vipula Amarasinghe |
The Sri Lankan delegates stressed the need of a forum to discuss
bilateral investment and business issues at the Sri Lanka-Maldives
Bilateral Business Council meeting in Colombo The President of the
Council, Tikiri Ellepola said that since the setting up of the Council
in 2007 a number of events had been organised to boost bilateral trade
and investment.
In 2008 an MoU was signed to increase trade and commerce between the
two countries. Free trade negotiations are going on under SAFTA.
The Hotel Asia and Maldives Construction Fair has opened
opportunities to develop business relations between the two countries.
Issues such as limitation of dollars in the Maldives, work permits and
investment limits of 49 percent, affects businesses and there should be
a forum to discuss these issues, he said.
Head of the Maldivian delegation Quasim Ibrahim said that this was
the first high level business delegation from the Maldives to visit Sri
Lanka and the new Maldives government is keen on increasing bilateral
trade.
Over the past decades our countries exported primary commodities. The
tourism industry in the Maldives has grown rapidly and there are new
business and investment opportunities.
"Under the new government we have plans to transform the country's
economy and turn challenges into opportunities. Foreign investment is
key in this economic transformation," he said.
"Giving opportunities to talented youth, population consolidation
program, setting up a one-stop-shop for investments in the Maldives and
setting up of economic zones are priority in this transformation
program. Our objective is to diversify and broaden our narrow economic
base," Ibrahim said.
The Maldives is Sri Lanka's third largest trading partner in the
SAARC region after India and Pakistan. According to 2012 trade
statistics the value of trade between the two countries was US$ 68.53
million.
Sri Lankan exports was at $ 52.2 million and imports from Maldives
amounted to $ 16.2 million in 2012.
GW |