The Ministry of Economic Development and Trade, in partnership with the United Nations Development Programme (UNDP), has decided to launch a study to assess the challenges faced by Maldivian small and medium enterprises (SMEs) in exporting local products.
The agreement for the initiative was signed by Economic Minister Mohamed Saeed on behalf of the government and UNDP Resident Representative to the Maldives, Enrico Gaveglia.
According to the ministry, the study will focus on regulatory issues, certification standards, permits, and registration processes that hinder the ability of businesses to enter international markets.
The Ministry noted that although the Maldives currently exports a large volume of seafood products, there is potential to diversify exports. However, existing barriers continue to restrict the growth of other local industries with export capacity.
The findings of the study are expected to inform strategic policies aimed at expanding Maldivian exports and improving the competitiveness of local businesses in the global market.
The agreement for the initiative was signed by Economic Minister Mohamed Saeed on behalf of the government and UNDP Resident Representative to the Maldives, Enrico Gaveglia.
According to the ministry, the study will focus on regulatory issues, certification standards, permits, and registration processes that hinder the ability of businesses to enter international markets.
The Ministry noted that although the Maldives currently exports a large volume of seafood products, there is potential to diversify exports. However, existing barriers continue to restrict the growth of other local industries with export capacity.
The findings of the study are expected to inform strategic policies aimed at expanding Maldivian exports and improving the competitiveness of local businesses in the global market.
