The Maldives-Pakistan Business Forum has commenced, with Maldivian President Dr Mohamed Muizzu and Pakistani Prime Minister Muhammad Shehbaz Sharif in attendance.
President Dr Mohamed Muizzu holds business forums in various countries during his official overseas visits. These forums bring together Maldivian and foreign businesspeople to share information about investment opportunities in the Maldives and major projects planned by the Government. The forum in Pakistan is part of this ongoing initiative.
During the President’s current official visit to Pakistan, the Maldives and Pakistan have signed 20 agreements. These include agreements related to trade and the economy. The two countries have agreed to strengthen cooperation in tourism, agriculture, information technology, cybersecurity, artificial intelligence, digital skills, innovation and entrepreneurship. Agreements have also been established to strengthen cooperation in fisheries and expand air travel between the Maldives and Pakistan.
Speaking after the agreements were exchanged, Pakistani Prime Minister Shehbaz Sharif said that the two countries would increase their bilateral trade to more than USD 200 million within the next two years. Trade between the two countries currently stands at USD 13.9 million.
During a meeting with President Dr Mohamed Muizzu, Pakistani President Asif Ali Zardari also expressed his commitment to strengthening economic ties between Pakistan and the Maldives.
Economic Minister Saeed had previously stated that business forums held overseas were producing results. He said the current administration had attracted 108 foreign investments to the Maldives within approximately one year, describing this as progress achieved through the business forums.
The current administration has so far held business forums in six countries: China, the United Arab Emirates, India, Malaysia, Singapore and the United Kingdom. In India, the forums were held in three cities.
The Ministry of Economic Development, Transport and Trade said the forums had led to an increase in the number of parties seeking information about investing in the Maldives, as well as the number of investments registered.