AGP Executive Report
Last update: 8 hours agoMaldives-Malaysia Economic Links: President Muizzu thanked Malaysia for considering a US$100m currency swap and welcomed talks toward a Preferential Trade Agreement, following PM Anwar Ibrahim’s visit—aimed at boosting trade and business ties. UK-Maldives Strategic Partnership: The UK and Maldives reaffirmed cooperation on Indian Ocean security, policing and maritime defence, plus governance and human rights; the UK also extended tariff suspension on Maldivian tuna (May 20, 2026–Dec 31, 2028) and discussed fisheries, tourism, renewables and finance. Tourism Tax Pushback: UK travel trade groups warned the Maldives’ expanded Tourism GST from Oct 1 could hurt overseas sellers via added compliance and pricing pressure, urging more consultation. Industry Financing for Trade: ITFC and the Maldives signed a five-year framework to mobilise up to $1.5bn for trade financing (2026–2031), including support for SMEs and strategic commodity imports. Ports & Logistics: MPL opened an EOI for a project management consultant for the Thilafushi multi-purpose port to ease Malé congestion and expand trade capacity. Green Growth: Government-backed nurseries will be set up on 10 more islands under the Five Million Trees programme; total plantings reached 1.83m. Tourism Connectivity: Visit Maldives signed MoUs with Emirates and Qatar Airways at ATM 2026 to strengthen GCC reach and air connectivity. Resort & Wellness Updates: Four Seasons launched Urja Naturopathy Island at Kuda Huraa, while multiple resorts rolled out festive dining and wellness programming.
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