President Anura Kumara Disanayaka has stressed on the importance of deeper collaboration between Maldives and Sri Lanka to exploit the immense economic benefits of the Indian Ocean.
Before ending the three-day official visit to the Maldives, President Disanayaka on Wednesday attended the Sri Lanka-Maldives Business Council meeting.
Speaking at the meeting, President Disanayaka highlighted the numerous policy shifts to steer Sri Lanka out of the economic crisis, which he insisted has paved the way for political stability and created a favourable environment for foreign investors.
He further underscored tourism, fisheries, real estate and ICT as investment areas of enormous potential for Maldivian investors, adding that the Indian Ocean, rich in natural resources, shared by the two countries holds significant economic benefits for both nations.
"Our maritime area is rich in natural resources. So we can work together. Especially in the food sector like fish products aquaculture. While there are equal opportunities for marine resources, businesses of both countries can work together for sustainable growth and progress," he said.
President Disanayaka also revealed efforts to draft a new legislation to offer more legal protection for foreign investors to complement ongoing efforts for economic recovery in Sri Lanka.
During the meeting, the Minister of Economic Development and Trade, Mohamed Saeed, noted that the annual trade between Maldives and Sri Lanka is worth USD 162 million, which he said reflects the long-standing relationship and strong trade ties between the two countries.
"I welcome the efforts of Maldivian and Sri Lankan businesses to find innovative ways to develop their business portfolio. I believe this will be mutually beneficial and bring economic prosperity to the entire region," he said.
The Minister also praised the steps taken by President Disanayaka for economic and fiscal reforms, adding that with these measures, Sri Lanka has proved to be a reliable partner for countries in the region.
During the meeting, the Sri Lankan President responded to the concerns of Maldivian businessmen regarding the situation in Sri Lanka.
The meeting was attended by the Ministers and Government officials who accompanied the President of Sri Lanka on his official visit to the Maldives. In addition to Minister Saeed, the Minister of Fisheries and Ocean Resources, Ahmed Shiyam and leading Maldivian businessmen took part in the meeting.