Minister of Economic Development and Trade Mohamed Saeed has departed on an official visit to the United States (US) to discuss trade relations between the Maldives and the US.
The economic ministry stated that Minister Saeed will meet with senior US economic leaders and officials from the country's trade agencies, as well as representatives from the US Chamber of Commerce. The primary goal of the visit is to hold extensive discussions aimed at strengthening economic ties and attracting trade and investment between the two countries.
Earlier this year in May, Minister Saeed announced plans to address challenges related to PayPal usage in the Maldives during his talks with the US government. PayPal, an e-wallet application, is widely used by Maldivian citizens for sending and receiving money online. However, it can currently only be used to send money abroad. Minister Saeed also intends to discuss enabling the receipt of funds through PayPal.
Additionally, Minister Saeed highlighted President Dr. Mohamed Muizzu's commitment to facilitating financial transactions through online payment systems and e-wallets. He noted the rapid introduction of various e-wallets, while acknowledging the challenge posed by the small market size in the Maldives. To overcome this, he suggested exploring the possibility of introducing services through a single channel, potentially including neighboring countries.