SL firms make successful contacts in Maldives

The inaugural edition of the International Trade Expo, ITE Maldives 2022 Buyer-Seller Meet Mart successfully concluded in Male.

ITE Maldives 2022 – Buyer-Seller Meet Mart, a business-to-business meeting platform was jointly organised by Aitken Spence Conventions and Exhibitions, Sri Lanka, and Ace Travels Maldives (Pvt) Ltd under the patronage of the Sri Lankan High Commission in the Maldives with the participation of around 20 Sri Lankan companies, representing construction material suppliers, spices and herbal manufacturers, interior designers, apparel and fashion, agriculture, and other service providers, showcasing their products and services to the Maldivian business community.

The opening ceremony was held on Monday, September 19, with the participation of the Maldivian Tourism Minister Dr. Abdulla Mausoom as the chief guest.

The High Commissioners of Bangladesh, India, Pakistan and the Ambassador of Japan, as well as the UNDP Resident Representative in Maldives were among the invitees present at the inauguration ceremony, along with representatives of participating companies from Sri Lankan and Maldivian companies.

The three-day event from September 19 to 21, included a Buyer-Seller Meet Mart in the form of B2B meetings on the first two days at the Manhattan Business Hotel, Male, during which Sri Lankan companies were able to meet and establish business contacts with Maldivian firms.

Sri Lankan High Commissioner to the Maldives, A.M.J Sadiq during his speech at the inauguration ceremony commended Aitken Spence Conventions and Exhibitions Sri Lanka and Ace Travels Maldives, both part of the leading Sri Lankan diversified conglomerate, Aitken Spence, for organising this event. High Commissioner Sadiq noted that this was a great initiative to bring together companies from both countries to meet and explore the full potential for bilateral economic cooperation.

The High Commissioner further stated that in order to promote greater economic cooperation between Sri Lanka and Maldives, the Mission has been engaged with the authorities in Sri Lanka to fast-track negotiations on the Avoidance of Double Taxation Treaty and to take urgent steps to initiate talks with Maldives on the Agreement on Promotion and Reciprocal Protection of Investments.

He noted that when the legal framework and the government regulations to facilitate trade and investment flows are in place, it would provide the confidence and encouragement for companies and potential investors to expand their business operations between the two countries.

The final day of ITE Maldives 2022 entailed a field visit for the participating Sri Lankan companies to Hulhumale to explore business and investment opportunities in the fast-developing artificial island adjacent to the Velana International Airport.