SLMLBC’s meeting with Maldives Monetary Authority Chief, High Commissioner sparks optimism

Friday, 20 October 2023 01:41 - - {{hitsCtrl.values.hits}}

The Sri Lanka Maldives Business Council (SLMLBC) hosted a dinner meeting with Maldives Monetary Authority Governor Ali Hashim and High Commissioner Ali Faiz recently at the Kingsbury Hotel.

The meeting played a crucial role in strengthening bilateral relations and addressing important issues facing the business communities of both countries. It provided a valuable opportunity to address and emphasise the importance of expanding business relationships and maintaining the strong friendship between Sri Lanka and the Maldives.

The meeting covered a range of significant topics, including bilateral relations such as: Discussions about how to enhance and strengthen the relationship between Sri Lanka and the Maldives; Double taxation: Addressing issues related to double taxation; Business visa: Exploring measures to facilitate business travel between the two countries; Ownership Issues: Examining concerns related to ownership of businesses in both countries; Ethical business practices: Discussing ethical business practices happening in both Sri Lanka and the Maldives; Foreign exchange: Exploring currency exchange matters and maritime and Freight Forwarding issues: Addressing challenges related to maritime and freight forwarding.

Maldives Monetary Authority Assistant Governor Idham Hussain, SLMLBC President Sudesh Mendis and representatives from the Council, HSBC Vice President Sanjeewa Perera, immediate past President Kevin Edwards, John Fernando from Kelani Cables PLC, Farih Fazal from American Water Systems Ltd , Kingsley Abeywickrama from CMA CGM Lanka Ltd, Bandula Egodage from Nestle PLC, past President Shenali Panabokke and Julian and Amanthi from Ceylon Chamber of Commerce, participated. It demonstrates the commitment on both sides to engage in constructive dialogue.

The meeting resulted in positive discussions, indicating that both parties are motivated to overcome challenges and strengthen business ties. It also enabled to clarify various issues and concerns, an essential step in building a solid foundation for future cooperation.

The SLMLBC stated, consultation with the private sector and the agreement to involve the private sector in policy planning is significant. It ensures that policies are developed with the input and insights of those directly involved in business operations.

The assurance that the Maldivian government is actively discussing the issues raised and intends to provide positive responses in the near future indicates progress and commitment to address the challenges faced by Sri Lankan businesses.

Continued collaboration and communication between governments and the private sector are essential for fostering a thriving business environment and ensuring that both countries can benefit from their strong historical ties. Similar dialogues could lead to mutually beneficial outcomes, paving the way for increased trade and economic cooperation between Sri Lanka and the Maldives.