Pakistan, Maldives target $200m bilateral trade in two years

Pakistan and the Maldives have agreed to increase bilateral trade from around $13.9 million to $200 million within the next two years, Prime Minister Shehbaz Sharif announced on Wednesday, as the two countries signed 20 memoranda of understanding (MoUs) and agreements to deepen cooperation across multiple sectors.

Addressing a joint press stakeout alongside Maldivian President Dr Mohamed Muizzu, the prime minister said the existing trade volume represented only a fraction of the economic potential of the two countries.

Shehbaz said both sides would make joint efforts to achieve the target through enhanced economic cooperation and effective implementation of the agreements signed during the Maldivian president’s three-day state visit to Pakistan.

The visit is the first by a Maldivian president to Pakistan in 11 years and coincides with the 60th anniversary of diplomatic relations between the two countries.

The 20 MoUs and agreements cover defence, information technology, cybersecurity, artificial intelligence, health, education, social protection, agriculture, fisheries, tourism, maritime security and other areas of cooperation.

The two countries signed an MoU on cooperation in information technology, cybersecurity, artificial intelligence, digital skills, technology and innovation. Other agreements cover combating illicit trafficking and the abuse of narcotic drugs, social protection, health cooperation, and collaboration between the Maldives Food and Drug Authority and Pakistan’s Drug Regulatory Authority.

The agreements also include the recruitment of health professionals, strengthening defence ties, maritime security, agricultural cooperation and fisheries.

In education, the two sides signed MoUs to promote technical and vocational education and training, as well as broader educational cooperation. Other agreements cover youth and sports development, air connectivity, tourism, and cooperation in arts, culture and heritage.

To boost commercial engagement, the Maldives State Trading Organisation and Pakistan’s Trading Corporation of Pakistan signed an MoU to cooperate in trade in agricultural commodities, food and other products. The two countries also agreed to strengthen environmental cooperation.

Shehbaz said the two sides had held productive discussions on trade, investment, strategic defence cooperation, education, health, policing and capacity building, besides exchanging views on regional and international issues.

He said many Maldivian students had received education at Pakistani universities and colleges, particularly in the health sector. Around 250 Pakistani doctors, along with paramedical staff, were serving in the Maldives, he added.

Pakistan was willing to expand medical and professional support according to the Maldives’ requirements, the prime minister said.

As part of environmental cooperation, Pakistan would provide 100,000 olive cuttings and 100,000 seeds of different plant species to support the Maldives’ initiative to plant five million trees.

Shehbaz also offered Pakistan’s technical expertise to the Maldives in areas including information technology and the establishment of data centres.

For his part, President Muizzu endorsed the target of increasing bilateral trade to $200 million within two years and said the two countries would work to expand trade and investment, strengthen connectivity and promote tourism cooperation.

He said the agreements would open new avenues for cooperation in health, education, fisheries, agriculture, youth, tourism, information technology, policing and defence, adding that their success would depend on translating commitments into tangible benefits for the people.

Muizzu also highlighted plans to expand scholarships, training and professional opportunities for Maldivian youth, including cooperation in artificial intelligence, digitalisation, skills development and emerging technologies.

Welcoming Pakistan’s support for the Maldives’ tree-planting initiative, the Maldivian president said climate change posed a direct challenge to his country’s security, development and future. He called for stronger cooperation in environmental conservation, renewable energy and climate resilience.

On regional issues, Shehbaz appreciated the Maldives’ support for the Palestinian cause and reiterated Pakistan’s commitment to the Palestinian people’s right to self-determination and the establishment of an independent, sovereign and contiguous state of Palestine in accordance with relevant United Nations resolutions.

Muizzu reaffirmed the Maldives’ solidarity with the Palestinian people and their right to an independent and sovereign state based on pre-1967 borders, with East Jerusalem as its capital.

The prime minister also reiterated that Jammu and Kashmir remained an internationally recognised dispute whose resolution must be in accordance with UN Security Council resolutions and the aspirations of the Kashmiri people.

Expressing concern over India’s decision to place the Indus Waters Treaty in abeyance, Shehbaz said legally binding international agreements must be respected and shared water resources should not be weaponised or used as a tool of political pressure.

“Water is a lifeline for humanity and more so for lower riparian,” he said, adding that any violation in this regard would be regarded by Pakistan as an act of war.

The prime minister also congratulated Muizzu on the honorary doctorate conferred upon him by the International Islamic University Islamabad in recognition of his leadership and public service.

The Maldivian president thanked Pakistan’s leadership and people for their hospitality, saying the visit offered an opportunity to build a new era of partnership on the foundations of six decades of friendship. He expressed confidence that the agreements would strengthen bilateral relations and create greater opportunities and mutual benefits for the people of both countries.