MTA inaugurates with aim of expansive opportunities for businesses

During the inauguration of Maldives Trade Association (MTA) on February 24, 2024. (Sun Photo/Aman Latheef)

Maldives Trade Association (MTA) establishes with the objective of granting opportunities of growth and expansion for local entrepreneurs and businesses.

While speaking at the inauguration ceremony of MTA, the association's interim president and former Maduvvari

MP Mohamed Ameeth attached major challenges Maldives faces with economic complications.

Highlighting the existence of other associations, formed with the objective of providing solutions for various economic sectors, Ameeth said MTA was founded with the aim of bringing policymakers, businesses, entrepreneurs, and stakeholders together on mitigating challenges and overcoming existing barriers towards a cohesive industry.

"Our objective is facilitating an open platform for entrepreneurs, enhance an environment that advocates on overcoming their challenges, and expand investment opportunities for both local and foreign ventures," Ameeth said.

Speaking in this regard, Ameeth also highlighted the lack of a major body advocating for the rights of businesses and traders, which he assured would be strengthened through MTA.

Male' City Mayor Adam Azim, who spoke at the inaugural ceremony raised concerns over the rampant increase of expatriate vendors in the local market.

"Why did the AgroNet go under their control? They are the ones who are producing, importing, and buying directly from suppliers. They also retail the items to consumers at the market stalls, when the said stall is registered under a Maldivian," Azim noted.

While noting the instrumental role played by expatriate workers in the Maldives economy, Azim stressed on the importance of controlling their involvement through sound regulations.

MTA pledges on creating market freedom for local businesses to expand and growth while combatting the economic challenges faced in the Maldives.