President Mohamed Muizzu has announced that the Maldives and Malaysia have agreed to initiate discussions on establishing a Preferential Trade Agreement (PTA) to enhance bilateral commercial ties.
Speaking at a joint press conference held during the official visit of Malaysian Prime Minister Anwar Ibrahim to the Maldives, Muizzu stated that the proposed trade agreement would unlock new opportunities for the business communities of both nations.
The two countries also reached an agreement to collaborate on tourism promotion, the development of the halal industry, and the strengthening of cultural ties. A key focus of this cooperation includes increasing tourist arrivals between the two nations.
Muizzu highlighted that joint efforts to promote sustainable tourism would not only strengthen people-to-people connections but also yield significant economic benefits for both countries.
Furthermore, the President extended an invitation to the Malaysian government and private sector to explore investment opportunities in the Maldives. He encouraged increased investment in critical sectors such as renewable energy, digital infrastructure, construction, and Islamic finance.
Muizzu noted that the Maldives and Malaysia share common ground in upholding Islamic values, justice, peace, and human dignity. He emphasized that this shared foundation ensures the two nations remain united on the international stage.
During Prime Minister Anwar’s visit, the Maldives and Malaysia signed two Memorandums of Understanding (MoUs). These agreements focus on strengthening cooperation in the fields of defense and Islamic affairs.
Diplomatic relations between the Maldives and Malaysia were established in 1968. Under this long-standing partnership, the Maldives opened its embassy in Malaysia in 2006.
