Third meeting held on US-Maldives Trade and Investment Framework Agreement

Delegations from the governments of the Maldives and the United States have met for the third meeting of the United States-Maldives Trade and Investment Framework Agreement (TIFA) Council.     

The meeting was held in the US capital Washington, D.C., on Wednesday. Co-chaired by Maldivian Economic Minister Mohamed Saeed and Assistant United States Trade Representative (AUSTR) for South and Central Asia Brendan Lynch, the meeting was attended by officials representing various authorities from both governments.

As per the statement by the Office of the United States Trade Representative (USTR), both Minister Saeed and AUSTR Lynch shared their ambition to deepen economic relations and noted the important role of bilateral engagement in diversifying trade and investment ties for inclusive, sustainable growth.

Maldivian side presented President Dr. Mohamed Muizzu’s administration’s economic vision and sought the support of the US government in these efforts and in this regard highlighted investment opportunities in the financial, maritime, real estate, and tourism sectors.

Minister @em_saeed and @USTradeRep, Brendan Lynch, co-chaired the 3rd meeting under the U.S. – Maldives Trade and Investment Framework Agreement held in Washington, D.C. Minister emphasized support for local digital content creators and artists to utilize global platforms, sought… pic.twitter.com/8rJVpYrv6j

— Ministry of Economic Development and Trade (@MoEDmv) July 11, 2024

Maldives also emphasized its support for digital content creators, artists, and entrepreneurs to capitalize on global commercial platforms and payment system solutions.

Both sides expressed their commitment to increase cooperation on worker rights, digital trade, and environmental sustainability to ensure that enhanced bilateral trade and investment benefits workers and businesses of all sizes in both the United States and the Maldives.  

Maldives’ ongoing economic reforms and efforts to improve the business climate to increase trade and incentivize investment were also discussed.

USTR also congratulated the Maldives on implementing a majority of its commitments under the World Trade Organization’s Agreement on Trade Facilitation, and encouraged working with donors, including the United States, on the implementation of the outstanding provisions. 

USTR said both sides concluded the meeting expressing commitment to intensify the productive engagement under the TIFA, with agreement on further strengthening bilateral economic ties for mutual benefit.