The third meeting of the United States-Maldives Trade and Investment Framework Agreement (TIFA) Council was held in Washington, D.C., on Wednesday. The meeting was co-chaired by the Maldives’ Minister of Economic Development and Trade, Mohamed Saeed, and Assistant United States Trade Representative (AUSTR) for South and Central Asia, Brendan Lynch, with wide interagency representation from both administrations.
According to a statement published by the President’s Office, Saeed and Lynch spoke on the effort to deepen economic relations and the talks underscored the role of bilateral engagement in diversifying trade and investment ties for inclusive, sustainable, growth.
Both delegations highlighted 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, the statement read.
The Maldives emphasised its support for digital content creators, artists, and entrepreneurs to capitalise on global commercial platforms and payment system solutions, and highlighted investment opportunities in the financial, maritime, real estate, and tourism sectors, the Office highlighted.
The statement went on to highlight that both nations committed to increased cooperation on worker rights, digital trade, and environmental sustainability, to ensure that enhanced bilateral trade and investments benefit workers and businesses in the United States and the Maldives.
The Maldives’ ongoing economic reforms and efforts to improve the business climate in order to increase trade and incentivise investment was a key discussion point, the President’s Office said, going on to detail that the US welcomed engagement with the Maldives on advancing worker centred trade, including on the implementation of its recently ratified Industrial Relations Act, and Occupation Safety and Health Act, as well as advancing labor rights for migrant workers.
The US delegation 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 implementation of the outstanding provisions, the President’s Office said.
The United States and the Maldives also committed to intensifying productive engagement under TIFA, with a view to further strengthen bilateral economic ties for mutual benefit, the Statement read.
Saeed also met with US corporate sector representatives at a round table discussion organised by the US Chamber of Commerce.
With Foreign Minister Moosa Zameer visiting the US last month, the Maldives is seen to be prioritising re-engagement of bilateral relations with the US.
Meanwhile, the US Senate is considering imposing sanctions on the Maldives over its decision, in the wake of the ongoing genocide in Gaza and as Israeli officials are being sought for war crimes, to ban Israeli passport holders from entering the country in solidarity with Palestine — an effort that, as of now, has made little progress.
US support of Israel’s actions in Gaza has drawn, and continues to draw, harsh and repeated public criticism from the larger Maldivian public.