Maldives, Seychelles feeling out cooperation avenues |30 July 2004

Minister of State for Finance and Treasury Mohamed Jaleel told reporters after the meeting that he and President Michel agreed that they should find complimentary roles that both nations can play toward development, and also to share with one another strategies for growth.

Minister Jaleel, who also serves as vice-governor of the Maldives Monetary Authority (MMA), was accompanied by the deputy managing director for the financial sector in the monetary authority, Ibrahim Naeem.

Minister Jaleel said he has also scheduled meetings with officials from the Central Bank, ministries and other representatives in the financial sector.

The minister cited both tourism and fisheries as potential areas of cooperation, noting that in a world growing smaller and smaller, small island states had to take the opportunity.

While no concrete resolutions are on the table so far, he said he would like to look into the possibility of joint ventures in both tourism and aviation.

Fisheries could also be a potential area of discussion. Minister Jaleel said 15 percent of the Maldives’ GDP comes from fishing, which also engages a large portion of the workforce.

He spoke of maximising production and creating high value industries that would help translate into better income standards.

“I would like to believe there are areas where we could cooperate over the long-term,” the minister said.

Speaking about what is his first visit to Seychelles, Minister Jaleel said he wanted to be able to see in person how the country has progressed.

“It’s not something I can do by sitting in my office,” he said.