The Ministry of Economic Development,Transport & Trade met with fisheries producers and export agencies to identify challenges, explore new markets, and gather industry priorities to support the ongoing India–Maldives Free Trade Agreement negotiations.
The consultation aims to strengthen export opportunities for Maldivian fisheries by ensuring industry interests are represented in the negotiations.
The fisheries sector recorded a sharp decline in February, with revenue falling 75 percent compared with the same month last year, according to the National Bureau of Statistics. In a podcast held last month, President Dr. Mohamed Muizzu stated that the fishing sector is facing negative repercussions, with a significant number of fishing vessels being sold off due to a critical shortage of labour. He added that efforts are underway to address these issues as part of broader reforms, including the rightsizing of state-owned enterprises.
The discussions come as the Maldives, in collaboration with SAARC member states, continues efforts to promote sustainable fisheries and strengthen regional cooperation, while addressing challenges such as declining fish stocks, illegal, unreported and unregulated (IUU) fishing, and the impacts of climate change.
