Delegations from the US government and the Maldives met on Wednesday in Washington DC, for the third 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.
At the meeting, both Saeed and 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.
The Maldives government’s delegates presented the economic vision of President Dr. Mohamed Muizzu’s administration and sough the US government’s support.
Both sides highlighted the progress on issues related to the protection and enforcement of intellectual property and noted the importance of providing regulatory transparency to enhance the investment climate.
Maldives government also emphasized its support for digital content creators, artists, and entrepreneurs to capitalize on global commercial platforms and payment system solutions. The delegates also highlighted investment opportunities in the financial, maritime, real estate, and tourism sectors.
Both delegations committed to increase cooperation on worker rights, digital trade, and environmental sustainability to ensure enhanced bilateral trade and investment that benefits workers and businesses of both the US and the Maldives.
The governments also discussed Maldives’ ongoing economic reforms and efforts to improve business climate in order to increase trade and incentivize investment.
The USTR also welcomed engagement with the Maldives on advancing worker-centered trade, including on the implementation of its recently ratified Industrial Relations Act and Occupation Safety and Health Act along with advancing labor rights for migrant workers.
USTR also congratulated Maldives on implementing a majority of its commitments under the World Trade Organization (WTO)’s Agreement on Trade Facilitation as well.
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