Sri Lankan Business Council president calls for support mechanisms to enhance Maldives trade

“Lack of support or mechanisms to solve legal issues faced by Sri Lankan companies dealing with Maldivian counterparts [is causing] serious frustration in trading,” writes the President of the Sri Lanka – Maldives Bilateral Business Council, Hussain S. Hashim.

“It is necessary to establish a commercial mediation centre as an alternate means of trade dispute resolution,” he said, reports Sri Lanka’s Daily News.

Hashim was reported as saying that there had been a marked increase in Sri Lankan exports to the Maldives between 2010 and 2011, resulting in a positive trade balance for Sri Lanka.

He also noted that Maldivian visitors to Sri Lanka has increased from 35,791 in 2010 to 44,018 in 2011 .

“We anticipate a positive solution for the shortage of US dollars in the Maldivian market which has caused an impact on trade,” Hashim said.