Govt urged to establish direct cargo connectivity with Maldives

Business Recorder reported that Mian Zahid Hussain has called for direct cargo links between Pakistan and the Maldives, simpler banking arrangements and a local-currency settlement system. He also urged the two governments to conclude a free or preferential trade agreement and lower barriers to commerce.

The call follows an October 21 meeting in Islamabad, where the countries set a goal of lifting annual trade from $13.4 million to $200 million over two years and signed 20 agreements and memoranda. Pakistan currently exports about $13.3 million in goods to the Maldives, while its imports from the island nation are negligible; the Maldives’ imports from global suppliers exceed $3.5 billion a year.

Hussain said the lack of direct shipping forces Pakistani goods to travel via Sri Lanka or Dubai, adding time and freight expense. He identified potential demand for Pakistani food, textiles, sports goods, medicines and construction supplies, while saying lower domestic business costs and an implementation plan would be needed to reach the trade goal.