Economic Minister Mohamed Saeed has stated that President Dr Mohamed Muizzu's vision is to further expand the cargo terminal, thereby working to bring down the difference between export and import values and eliminate the country's trade deficit.
Speaking at the inauguration of the new Cargo Terminal at Velana International Airport today, the Minister said that the expansion of the terminal from a capacity of 50,000 tonnes to 120,000 tonnes is the beginning of these efforts.
"The President's vision is to commence work immediately and extend the terminal's capacity to 300,000 tonnes. Not just physical infrastructure. Promoting air cargo arrivals here is an effort we must undertake together," Saeed said.
Saeed said that the establishment of Maldives Industrial Development Free Zone, recently formed by the government to handle re-export and transshipment, had in itself created interest within the international community.
"We have effectively taken part in an extensive free market. The decision to expand such a modern cargo facility to 300,000 tonne capacity, and thereby find a solution to the Maldives trade imbalance - MVR 3.48 billion in imports and MVR 300 million in exports - finding a way to close this gap is the most practical and visionary decision that a President can make," Saeed stated.
Saeed believes that this move will facilitate the realization of the President's aim to increase the country's GDP from 6 billion to 12 billion.
Sign In