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“I have brought high level Maldives officials and Cabinet members here with me including Minister of State for Housing and Infrastructure Mohamed Faiz, top Maldivian Finance Ministry and Health Ministry officials,” said Jihad. “Both countries can jointly grow sea cucumber and earn export revenue. We are for joint ventures with Sri Lanka to explore this valuable ocean commodity. According to our research, sea cucumber grows twice as fast in Sri Lankan ocean water, due to the quality of salinity and ocean mud here. Partnering with a Lankan mariculture firm, we are already doing an experimental sea cucumber project in Mannar. We are happy to inform you that the results from this project are very promising. This can be a joint bilateral venture where both countries could benefit by collaboration. It can also enhance exports.”
According to the Department of Commerce of Sri Lanka, the Maldives is the third largest trading partner of Sri Lanka among the SAARC countries, after India and Pakistan. Total trade between the two countries, which stood at $ 50.64 million in 2010, has increased to $ 72 m in 2013, recording more than 40% increase since 2010. In 2013, Sri Lanka’s exports to Maldives stood at $ 69 m, growing by 13.4% from $ 52 m exports in 2012. Prawns and lobster were the only fishery exports to Maldives from Sri Lanka in 2013 (prawns $ 1.31 m, lobsters at $0.65 m). 81% of Sri Lanka’s imports from Maldives in 2013 were fishery products.
“Both Sri Lanka’s and Maldives’ islandic relations go back in history and we share same ocean experiences. It is time we utilise these common experiences and gain revenue. In fact, at the first session of the Sri Lanka-Maldives Joint Commission held in Male in April 2006, cooperation in fisheries sector, among others, were discussed in depth. I am also happy to hear that your experimental mariculture efforts in Mannar, which is my electorate, has given promising results,” responded Bathiudeen.
He added: “This is an opportunity for the region’s fishermen too. Industry and Commerce Ministry and regional officials and I are ready to extend any form of assistance that you require in this regard so that this proposed project will result in a new export product from Sri Lanka to the world and the effort is also compatible with the goal of increasing exports and regaining the GSP+ provisions as set by President Maithripala Sirisena in his 100-day work program. I suggest that we can organise sea cucumber farming communities in Mannar areas such as cooperatives so that they can gain the full benefits of this new venture. Please forward us a detailed proposal so that with our Fisheries Development Minister Dilip Vedha Arachchi and his Ministry, we can help you to proceed, if the environment impact assessment, etc., is also approved. Clearly, this is a way to improve our exports.”
Global annual sea cucumber – the prized, luxury, high end ocean food resource – production is estimated at 130,000 tons. Rather than European or American markets, the huge majority of sea cucumber importers and consumers are Far Eastern markets – China, Hong Kong, Taiwan, Singapore, Korea, Japan and Malaysia.
Due to the heavy demand and huge quantities being harvested, fresh sea cucumber supplies are becoming increasingly rare. If the Joint Venture is finalised, it would the first ever such mariculture JV that Lanka enters into with a neighbour in the South Asian region. Minister Jihad said: “Our Government is very keen to diversify our fishery as well as mariculture and we looking for ways to develop this sector. Sri Lanka has a bright future and great potential for sea cucumber cultivation as market prices continue to increase.”
FOB export prices of a kilo of Sri Lankan dried sea cucumber ranged from $75 to $210 (depending on the size, appearance and flesh thickness) as of early this month.
