Maldives, Pakistan seek to boost trade volume from $13m to $200mn

Maldives and Pakistan have agreed to boost the annual trade volume between the two countries from USD 13 million to USD 200 million within the next two years, as they hail “a new era” of partnership and economic cooperation.

The agreement was reached during Maldivian President Dr. Mohamed Muizzu’s three-day state visit to Islamabad at the invitation of Pakistani Prime Minister Shehbaz Sharif.

At a joint press briefing after the two leaders witnessed the exchange of 20 Memoranda of Understanding between the two countries, President Muizzu said the cooperation agreements will open new avenues for cooperation in multiple sectors.

“But agreements are meaningful only when they produce results. Our next step, of course, is to translate these understandings into tangible opportunities and meaningful benefits for the people of both nations,” he said.

President Muizzu said that he and PM Sharif agreed to embark on a new level of economic cooperation that aims to boost the annual trade volume between the two countries to USD 200 million within the next two years.

“That starts with a new level of economic cooperation. And I fully endorse and agree to take the bilateral trade between our two countries from USD 13 million to USD 200 million within the next two years,” he said.

President Muizzu described Maldives and Pakistan as “vaults of untapped potential for each other.”

“We agreed to work together to expand bilateral trade and promote greater investment, deepen tourism cooperation and strengthen connectivity between our two countries,” he said.

He said that the Maldives-Pakistan Business Forum scheduled for Thursday will provide an opportunity to bring together business leaders, inventors and innovators from both countries, who he said “can turn friendship and understanding into mutually beneficial investments and partnerships.”

President Muizzu also said he was “very encouraged” by the ongoing discussions to launch direct flights established between Maldives and Pakistan, especially given the potential to expand tourism.

“Direct flights would also of course open new opportunities for tourism. We also see considerable potential in Halal and Muslim-friendly tourism, where shared values and experiences provide a strong foundation for partnership,” he said.

President Muizzu’s visit marks the first high‑level engagement between Maldives and Pakistan in a decade, and coincides with the 60th anniversary of diplomatic relations between the two countries.

The last time a Maldivian president visited Pakistan was in May 2015, when the then-President Abdulla Yameen Abdul Gayoom travelled to Islamabad.

On Wednesday, President Muizzu said that Pakistan has stood a trusted friend of the Maldives for 60 years, and that the two countries are now looking to build a new era of partnership.

“For 60 years, Pakistan has stood as a trusted friend of the Maldives. Today, Prime Minister and I have agreed to turn a new leaf, to build a new era of partnership on the foundations of our six decades of friendship. An era that will deliver greater opportunity, greater prosperity and greater benefits to our peoples,” he said.

President Muizzu’s visit to Pakistan has seen the two countries exchange agreements to boost cooperation in multiple areas, including air connectivity, healthcare, defense, education, trade, finance, technology, tourism and climate change.