Minister of Foreign Affairs Abdulla Shahid has reiterated the new commitment of the Maldives to cooperate more closely with regional and international partners in the developing world, to establish new partnerships and to explore new economic opportunities that would be beneficial to the Maldives. The foreign minister made the remarks delivering the national statement of Maldives at the ongoing Second High Level United Nations Conference on South-South Cooperation, in Buenos Aires, Argentina.
Speaking at the plenary session of the High Level Conference, Foreign Minister Shahid emphasised since the First United Nations High Level Conference on South-South Cooperation was held in 1978, much has changed in the developing world.
The minister highlighted cooperation between developing countries act as an engine of growth for world economy, playing an increasingly significant role in global trade, especially in new and emerging markets. He mentioned Maldives had traditionally benefited immensely from North-South cooperation and development assistance, referring to the assistance and grants provided by the developed countries.
However, the foreign minister said since the Maldives' graduation from the list of LDCs in 2011, and due to its status as a higher Middle Income Country, Maldives must look towards new opportunities for investment and trade, in building capacity and through exchange of information and technology.
Furthermore, Minister Shahid expressed given the size and value of economic markets in the Global South or the developing world, Maldives will seek to take full advantage of the frameworks and platforms provided by South-South and triangular cooperation to further its economic ambitions and comparative advantages in international trade.