Agri Business

‘India and Maldives should tap business potential in seafood trade’

Our Bureau Kochi | Updated on November 05, 2020 Published on November 05, 2020

Investment in fisheries sector will have both economic and social impacts

India and Maldives should explore investment and partnership synergies, especially for the promotion of seafood export-import trade, speakers at a consultative meeting organised by Ficci-Kerala said.

Fayyaz Ismail, Maldives Economic Development Minister, said the Kochi- Maldives ferry service is vital and critical enabler to accelerate export/import trade relations, and there is significant potential for investment in the fisheries sector that will have both economic and social impacts. The cordial relationship between the two countries has strong potential for fruitful, productive and strong business relations, he added.  

Sunjay Sudhir, Indian High Commissioner, Maldives, said the regular cargo ferry services significantly helped to enhance export-import trade between two countries. Seafood exporters from India should tap the immense potential of raw seafood available at Maldives and reprocess the same in India with value addition.

M Beena, Chairperson, Cochin Port Trust, said Kochi, with significant capabilities in seafood processing, could become the gateway for seafood imports from Maldives and re-export the same to European markets with reduced transhipment time.

P Anil Kumar, Jt. Director (Mktg), Marine Products Export Development Authority, highlighted the strength of Maldives in fisheries and said it had exported $24000 million worth seafood in 2019-20. Tuna is the major component of seafood exports from Maldives. India exports Tuna worth $56 million and major exporters are from Kerala. Hence, there is strong potential for close collaboration, joint venture between seafood exporters and importers from both the countries.

Given the potential of canned processed Maldivian seafood in the Indian markets, Alex Ninan, president, Seafood Exporters Association of India-Kerala region, called for closer cooperation between seafood exporters in both the countries. Indian seafood exporters could also become strong customers for Maldivian tourism sector with supply of canned processed seafood and ready-to-cook products.

Prominent seafood exporters from Maldives and India participated in the deliberations.

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Published on November 05, 2020
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