Discussions held on promoting seafood exports from Maldives to India

Discussions have been held regarding the promotion of seafood exports from Maldives to India.

On Wednesday, a consultative meeting, organized by the Federation of Chambers of Commerce and Industry (FICCI), India, Cochin Port Trust and the High Commission of India was held.

During the meeting, discussions also revolved around exploring synergies between the seafood industries in the Maldives and India.

The meeting was joined by Maldives Minister of Economic Development Fayyaz Ismail, High Commissioner of India to the Maldives, Sunjay Sudhir, Chairperson of the Cochin Port Trust, Dr. Beena and leading seafood industry experts and business personalities from India and the Maldives.

The meeting was scheduled following the inauguration of the Cargo Ferry Service between Tuticorin-Cochin-Male-Kulhudhuffushi in September 2020. The regular cargo vessel service is a key enabler for partnerships and cross-border investments, said the Indian High Commission.

The service has already seen the completion of three round voyages and is now seen as a key enabler of greater trade and cross-border investments, particularly in the seafood sector.

Highlighting that the seafood industry in Cochin could also be a source of investment into the fisheries sector in the Maldives, the High Commission noted that Cochin alone has 120 seafood processing units, adding that Cochin Port has regular connectivity with European markets which could be used by the Maldives.

Further noting that the Indian market is untapped, the High Commission stated that a majority of the seafood/tuna exports of the Maldives is to Thailand and to markets in the US, Europe and Japan.

In May this year, the Maldives Seafood Processors and Exporters Association (MSPEA) revealed that the demand for Maldivian fish exports have seen a steep rise following the recovery of the European market, after the measures implemented to curb the spread of Covid-19 pandemic, were eased.