Key Takeaways
- Pakistan and the Maldives have agreed to increase bilateral trade to $200 million within two years.
- The target was announced during a three-day state visit by Maldives President Dr Mohamed Muizzu to Pakistan.
- 20 Memorandums of Understanding were signed to enhance cooperation in various sectors.
Pakistan and the Maldives have agreed to significantly boost their bilateral trade to $200 million within the next two years, according to a statement by Prime Minister Shehbaz Sharif.
The ambitious target was announced during a three-day state visit by Maldives President Dr Mohamed Muizzu to Pakistan, marking the first visit by the Maldives' president in 11 years and coinciding with the 60th anniversary of the bilateral diplomatic relations.
During the visit, both countries signed 20 Memorandums of Understanding (MoUs) to expand cooperation across various sectors, including healthcare, education, and defence.
PM Shehbaz Sharif stated that the current trade, valued at $13.9 million, represents only a fraction of the countries' economic potential and that both sides are committed to achieving the new target.
The Prime Minister highlighted existing cooperation in healthcare and education, noting that a large number of Maldivian students have studied at Pakistani universities and colleges, particularly in healthcare.
He also mentioned that about 250 Pakistani doctors are serving in Maldives and other places, contributing to the healthcare sector.
In addition to trade, the two leaders discussed strategic defence cooperation and training in policing, defence, education, and health, underscoring the multifaceted nature of their partnership.
The agreement to increase trade is seen as a significant step in strengthening bilateral ties and unlocking the full economic potential of the relationship between the two nations.
We will do our best jointly to raise this bilateral trade quantum from 13 million dollars to 200 million dollars in the next two years.
PM Shehbaz Sharif, Prime Minister of Pakistan
