U.S., Maldives enter trade and investment agreement
The United States and Maldives have signed a Trade and Investment Framework Agreement (TIFA) to study ways to enhance bilateral trade and investment.
The agreement will establish a regular U.S.-Maldives Council in which high-level officials from each country will meet to address a wide range of trade and investment issues, including market access, intellectual property, labor and environment. The council will be chaired by the Office of the U.S. Trade Representative and the Maldives Ministry of Economic Development.
'We have a low level of trade and investment with the Maldives,' said Assistant U.S. Trade Representative for South and Central Asia Michael Delaney in an Oct. 17 statement. 'We will use the TIFA to boost trade between our two countries.'
U.S. goods exports to the Maldives in 2008 were $20 million, an increase of 5 percent from 2007. These exports largely consisted of chemicals, storage devices, aircraft parts and floor coverings. U.S. goods imports from the Maldives in 2008 were $4 million, consisting mainly of fish and organic chemicals.
U.S., Maldives enter trade and investment agreement
