Maldives and Malaysia to negotiate preferential trade agreement
MALÉ: Maldives and Malaysia have agreed to initiate negotiations for a preferential trade agreement (PTA), in a move aimed at expanding bilateral trade, investment and business opportunities.
Malia and Malaysia plan to discuss a preferential trade agreement to boost bilateral trade, investment and business prospects. President Dr Mohamed Muizzu of Maldives stated the agreement could open new avenues for businesses in both nations, enhancing economic ties. The two countries also explored concrete measures to strengthen economic cooperation, with Maldives inviting Malaysia to investigate investment in sectors like renewable energy, digital infrastructure, construction, and Islamic finance.
Additionally, they exchanged new cooperation agreements on defence and Islamic affairs, aiming to bolster the institutional foundations of their relationship. Muizzu described the talks with Prime Minister Datuk Seri Anwar Ibrahim as fruitful, covering various mutual interest issues, from implementing existing frameworks to new partnership opportunities.
The Maldives and Malaysia intend to continue regular consultations and coordination on shared concerns via platforms like the UN, OIC, and Commonwealth.
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