U.S. Embassy in Malé and Maldives Customs Services collaborated to host an event to discuss critical aspects of trade security and discuss how secure trade practices can attract business and investments.
This week, the U.S. Embassy in Maldives partnered with Maldives Customs Services to bring together government agencies and international experts to explore critical aspects of trade security and discuss how secure trade practices can attract business and investments.
The event took place from 7th to 8th October, where Chief Major General of Maldives National Defence Force (MNDF) Ibrahim Hilmy, gave the keynote address. Trade regulators from the United Arab Emirates and the Philippines also presented their national systems for overseeing the trade and transshipment of strategic items at the event.
"These items are sensitive ‘dual use’ goods or technologies that can be used for both commercial and military applications. Such goods can play a vital role in advancing innovation but require greater protections," the U.S. Embassy said.
Speaking at the event, U.S. Ambassador Hugo Yon emphasised the benefits of strategic trade management, saying that, "there are economic benefits to building a secure trading environment that inspires the trust of exporting and importing countries and of innovative companies that supply high-tech goods. Research shows that being serious about protecting shipments of sensitive goods sends a positive signal and corresponds with increases in foreign direct investment.”
The forum also featured insights from Singapore’s Centre for Trade Excellence and the U.S. Department of Commerce as well as the Financial Intelligence Unit of the Maldives Monetary Authority. According to the Embassy, these specialists provided valuable tips and strategies for coordinating across government and engaging with industry to mitigate security and reputational risks in today’s complex global supply chains and logistics routes.
Sponsored by the U.S. Department of State’s Export Control and Border Security (EXBS) Program, the forum underscored international partners’ commitment to enhancing trade security.
The Embassy said that the EXBS Program collaborates globally with government and industry partners to strengthen strategic trade management, including legal frameworks, licensing, customs enforcement, and border security.
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