23 October 2024

Thank you, Chair.

Good morning, colleagues.

First of all, I would like to warmly welcome the Maldives delegation led by His Excellency Mr. Hussain Zamir, Minister of State for Economic Development and Trade and appreciate the preparations made by government of Maldives for this TPR. I would also like to express my gratitude to the Discussant, Ambassador Colin Murdoch for his insightful observations. My thanks also go to the Secretariat for the hard work for this TPR.

Chair,

As indicated in the Secretariat Report, the Maldives is “a success story of how a small, vulnerable island nation can overcome challenges and achieve sustainable development.” As the first country in South Asia to attain and maintain upper middle-income status, the Maldives' success is driven by its commitment to open economy, favourable business environment, robust environmental protection and strong focus on international trade.

Despite the significant impacts of the COVID-19 pandemic, the Maldives continued to make substantial progress during the review period. Between 2017 and 2023, its GDP grew significantly, GDP per capita rose from USD 9,700 to USD 11,700, and life expectancy reached 79.9 years. With further efforts to diversify its economy and restore debt sustainability, the Maldives' development story is poised to continue.

Chair,

As an original Member of the WTO, the Maldives has always supported the rules-based multilateral trading system. During the review period, Maldives notified a series of laws and regulations to the WTO and accepted the WTO Trade Facilitation Agreement (TFA) and the Protocol Amending the TRIPS Agreement in 2019 and 2022.

We also notice that, as a member of G90 and the Small Island Developing States (SIDS), and the Small Vulnerable Economies (SVEs), the Maldives has actively engaged in WTO negotiations and discussions, including the IFD, trade and environmental sustainability and others, and has been a strong advocate for the development dimension of the WTO. China commends all those efforts and encourages the Maldives to continue its active participation in WTO affairs, including the early acceptance of the WTO Agreement on Fisheries Subsidies.

China is willing to work with the Maldives and other SIDS and SVEs to achieve more pro-development outcomes in the WTO.

Chair,

There is a proverb in the Maldives’ language: “A solid foundation is essential for a well-built edifice.” The relationship between China and the Maldives is built on a solid foundation of mutual friendship and trust. Since the establishment of diplomatic relations in 1972, the two countries have enjoyed a fruitful partnership. This year, on the 10th anniversary of the Maldives' joining "the Belt and Road" initiative, the partnership has reached a new milestone. In January 2024, bilateral relations were elevated to a comprehensive strategic cooperative partnership.

Encouraged by the intensive high-level visits and comprehensive cooperation in recent years, China and Maldives bilateral economic ties continue to deepen and widen. Bilateral trade has experienced remarkable growth, rising from USD 411 million in 2021 to USD 760 million in 2023. Meanwhile, China remains a key source of foreign investment for the Maldives. We are pleased to see the successful launch of the first "Invest Maldives" forum in Fuzhou, China this January, aimed at facilitating project cooperation and promoting investment opportunities.

In 2017, China and Maldives signed a Free Trade Agreement (FTA). We look forward to early implementation of the Agreement. We believe that this Agreement will bring real benefits for the people of both countries.

Chair, we appreciate the responses from Maldives to our submitted written question.

To conclude, I wish Maldives’ Trade Policy Review a complete success.

Thank you, Chair.