Delegations from the governments of the Maldives and the United States met on Wednesday in Washington DC for the 3rd meeting of the United States-Maldives Trade and Investment Framework Agreement (TIFA) Council.
The meeting was co-chaired by Minister of Economic Development and Trade Mohamed Saeed and Assistant United States Trade Representative (AUSTR) for South and Central Asia Brendan Lynch.
Minister Saeed and Lynch shared their ambition to deepen economic relations and noted the role of bilateral engagement in diversifying trade and investment ties for inclusive, sustainable growth.
Maldives presented the economic vision of President Dr. Mohamed Muizzu’s administration and sought US government’s support. Both sides had highlighted the progress on issues related to the protection and enforcement of intellectual property.
Both delegations also noted the importance of providing regulatory transparency to enhance the investment climate.
Maldives also emphasized its support for digital content creators, artists, and entrepreneurs to capitalize on global commercial platforms and payment system solutions. The delegation further noted the investment opportunities in the financial, maritime, real estate, and tourism sectors.
The two sides also pledged to increase cooperation on worker rights, digital trade, and environmental sustainability to ensure enhanced bilateral trade and investment benefits workers and businesses of both the countries.
The governments also discussed the Maldives’ ongoing economic reforms and efforts to improve the business climate to increase trade and incentivize investment. USTR also welcomed engagement with the Maldives on advancing worker-centered trade, including on the implementation of the country’s recently ratified Industrial Relations Act and Occupation Safety and Health Act and advancing labor rights for migrant workers.
USTR also congratulated Maldives on implementing a majority of its commitments under the World Trade Organization’s Agreement on Trade Facilitation. USTR also encouraged Maldives on working with donors, including the US, on implementation of the outstanding provisions of the WTO agreement.