The Sri Lanka Maldives Business Council (SLMLBC) hosted a dinner meeting with His Excellency Ali Hashim from the Maldives Monetary Authority and High Commissioner His Excellency Ali Faiz on the 1st of September at the Kingsbury Hotel. Such meetings play a crucial role in strengthening bilateral relations and addressing important issues facing the business communities of both countries. This meeting provided a valuable opportunity to address and emphasize the importance of expanding business relationships and maintaining the strong friendship between Sri Lanka and the Maldives.

This meeting covered a range of significant topics, including Bilateral Relations: 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.

Maritime and Freight Forwarding Issues: Addressing challenges related to maritime and freight forwarding.

The participation of key individuals, including His Excellency Ali Hashim Governor of the Maldives Monetary Authority, His Excellency Ali Faiz, High Commissioner of Maldives, Ms. Idham Hussain, Assistant Governor of the Maldives Monetary Authority, Sudesh Mendis – President of SLMLBC, and representatives from the Sri Lanka Maldives Business Council Sanjeewa Perera VP -HSBC, Kevin Edwards – Immediate Past President, John Fernando – Kelani Cables PLC, Farih Fazal – American Water Systems Pvt Ltd, Kingsley Abeywickrama – CMA CGM Lanka PVT Ltd, Bandula Egodage – Nestle PLC, Shenali Panabokke – Past President, Julianne & Amanthi – Ceylon Chamber of Commerce, demonstrates the commitment from both sides to engage in constructive dialogue.

Positive Discussion: The fact that the meeting resulted in positive discussions suggests that both parties are motivated to overcome challenges and strengthen their business ties.

Clarifications: The ability to clarify various issues and concerns is an essential step in building a solid foundation for future cooperation.

Consultation with the Private Sector, 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.

Promising Response: 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 addressing 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. This kind of dialogue can lead to mutually beneficial outcomes, paving the way for increased trade and economic cooperation between Sri Lanka and the Maldives.