Minister of Economic Development and Trade Mohamed Saeed has assured that the Maldives faces no hindrances in importing essential goods. He made the statement in response to the temporary ban on onion exports from India, a significant supplier to the Maldives.
Reports from an Indian media outlet suggest that India implemented the measure to regulate commodity prices leading up to the 2024 parliamentary election, banning onion exports until March next year.
As the Maldives heavily relies on India for onion imports, concerns have arisen among traders about potential shortages in the local market. Minister Saeed addressed the concerns, noting that fluctuations in the global food market and shifts in the export policies of individual countries are commonplace. He, however, said that nations engaged in trade relations with the Maldives consistently prioritise the country, ensuring no impediments to the importation of essential goods.
Additionally, Minister Saeed highlighted the commitment made under President Dr. Mohamed Muizzu's administration to prioritising food security in the Maldives. He underscored the government's dedication to achieving the goal through environmentally sustainable solutions.
The Maldives faces limited domestic production, with a considerable portion of its staple food items being imported from other nations. As such, changes in the global food market exert a significant impact on the Maldivian economy. The Maldives has consistently endeavored to enhance trade ties with diverse countries, aiming to reduce dependence on a select few countries for food product procurement.