Sri Lanka and Maldives aim to expand trade and investment

Maldivian President Dr. Mohamed Muizzu and Sri Lankan Prime Minister Dr. Harini Amarasuriya have called for stronger trade, investment, and economic cooperation between the Maldives and Sri Lanka.

They made these remarks at the Maldives–Sri Lanka Business Forum, which was held in Colombo yesterday afternoon (May 05).

The event was organized by the Ministry of Economic Development, Transport and Trade of the Maldives. It was attended by leading business figures from both countries.

Addressing the forum, President Muizzu said the Maldives expects to continue promoting cooperation in many sectors, based on the friendship built over more than half a century of political trust, close people-to-people relations, and goodwill between the two countries.

He said the Maldives is a “nation moving forward” and that its goal is to become a developed, inclusive, and sustainable nation.

President Muizzu said the Maldives’ development approach is people-centered, powered by technology, and based on environmental protection.

He stressed that Sri Lanka is not only a neighbor of the Maldives, but also an important strategic partner.

The Maldivian President said businesspeople from the Maldives are interested in expanding their investments in Sri Lanka. He added that bilateral investments between the two countries are important for economic stability.

President Muizzu also said Sri Lanka’s experience and skills in Indian Ocean security, climate resilience, and sustainable development would be a major strength for the Maldives’ future journey.

He said the Maldives is positioning itself as an emerging digital hub in the Indian Ocean, showing the confidence international companies have in the country.

President Muizzu invited the Sri Lankan business community to work with the Maldives by investing in infrastructure, digital innovation, and food security.

Prime Minister Dr. Harini Amarasuriya said the time has come to transform the historic relationship between Sri Lanka and the Maldives into a modern economic partnership.

She said that despite Cyclone Ditwah, which affected Sri Lanka in late 2025, and global economic challenges, Sri Lanka recorded the highest annual tourist arrivals in its history in 2025.

The Prime Minister also recalled the USD 3 million donation given by the Maldivian government and business community to support Sri Lankans affected by Cyclone Ditwah.

She said the donation was a strong example of the unwavering friendship between the two countries.

Prime Minister Amarasuriya said trade turnover between Sri Lanka and the Maldives stood at USD 137 million in 2025, but added that this was still far below its real potential.

She also said more than 20,000 Sri Lankan professionals are currently working in various sectors in the Maldives, including tourism and hospitality, and are making an active contribution to that country’s economy.

The Prime Minister said the Sri Lankan government expects to further expand trade relations between the two countries through food production and fish processing.

She said Sri Lanka is moving toward its target of building a USD 15 billion digital economy by 2030.

Prime Minister Amarasuriya also said excellent opportunities are available for Maldivian investors in Colombo Port City, which is a key financial hub in South Asia.

She further said the Sri Lankan government aims to bring prosperity to the people of both countries through partnerships in areas such as sustainable blue economy projects and digital innovation.

Maldives Minister of Economic Development, Transport and Trade Mohamed Saeed said that under the vision of President Muizzu, the Maldives is moving beyond being only a tourism destination and toward a future-ready, diversified economy.

He said the Maldivian government aims to position the Maldives as a strategic hub connecting trade, capital, and innovation in the Indian Ocean.

Minister Saeed said there is strong potential for the two countries to cooperate strategically in areas such as the reorganization of global supply chains, digital transformation, sustainability, and climate resilience.

He added that the Maldives is committed to strengthening commercial relations with Sri Lanka, especially in digital services, renewable energy, and financial services, while building a more dynamic and resilient economic partnership.

Minister of Science and Technology Professor Chrishantha Abeysena, Minister of Youth Affairs and Sports Sunil Kumara Gamage, members of the Maldivian delegation, and representatives of the business communities of both countries were also present at the event.

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