News Desk
The Maldives and Malaysia have agreed to initiate talks on establishing a Preferential Trade Agreement (PTA), following high-level bilateral discussions in Malé between President Dr Mohamed Muizzu and Malaysian Prime Minister Anwar Ibrahim.
The decision comes alongside a key request from the Maldives Monetary Authority (MMA), which has sought a $100 million facility from Malaysia’s central bank. Prime Minister Anwar confirmed that the Malaysian government has agreed in principle to the request, noting that the two central banks will work out the operational framework to implement the arrangement as soon as possible.
Addressing a joint press briefing following official talks at the President’s Office, President Muizzu highlighted that a PTA would open new commercial avenues for businesses in both nations. He invited Malaysian private enterprises and government entities to invest in the Maldives, pointing to renewable energy, digital infrastructure, and Islamic finance as prime sectors.
Prime Minister Anwar, who arrived in Malé on an official state visit, assured full backing for Maldivian priorities. He pledged to address ongoing issues faced by the over 2,000 Maldivian students residing in Malaysia, as well as locals travelling there for specialized medical care. Anwar announced that measures to ease visa processes and support accompanying parents will be tabled at Malaysia’s next Cabinet meeting.
The Malaysian leader also revealed that talks touched on sourcing fuel from Malaysian state energy company Petronas. Noting that Petronas exports to far more distant nations, Anwar said he foresees no major hurdles in supplying fuel to the Maldives and will pursue discussions with the firm.
During the visit, the two governments formally exchanged Memoranda of Understanding to enhance cooperation in defence and Islamic affairs. President Muizzu noted that the outcome of these talks solidifies the 58-year diplomatic relationship between the two nations, laying the groundwork for closer collaboration across international bodies including the United Nations, the Organization of Islamic Cooperation (OIC), and the Commonwealth.
