By: Staff Writer
November 24, Colombo (LNW): Maldives President Mohamed Muizzu is scheduled to arrive in Colombo in the second week of December on an official invitation extended by President Anura Kumara Dissanayake, in a visit that is expected to significantly reshape economic cooperation, investment flows, and regional political alignment between the two Indian Ocean neighbours.
According to diplomatic sources, at least six memoranda of understanding (MoUs) covering trade, investment promotion, tourism collaboration, and information sharing are set to be signed during the three-day visit.
The visit comes just four months after President Dissanayake travelled to Malé and signed two important agreements: a Mutual Legal Assistance Treaty and a diplomatic training MoU between the Maldivian Foreign Service Institute (FOSIM) and Sri Lanka’s Bandaranaike International Diplomatic Training Institute (BIDTI).
This renewed exchange of high-level visits after several years of geopolitical turbulence in Malé signals a deliberate effort to stabilise and expand bilateral ties.
Sri Lanka and the Maldives have long maintained a cordial but understated relationship grounded in shared membership in the Commonwealth, SAARC, and the Indian Ocean Rim Association. Economic engagement, however, has historically remained modest.
Annual trade averages around USD 40 million, dominated by Sri Lankan exports of apparel, ceramics, processed food, and construction materials. The Maldives, heavily reliant on imports, represents a niche but stable market for Sri Lankan manufacturers.
Tourism and health travel form another critical pillar. While Sri Lankan tourists frequently visit Maldivian resorts, thousands of Maldivians travel to Colombo each year for medical treatment, education, shopping, and business. Strengthening these sectors through new MoUs could boost revenue for Sri Lankan hospitals, education institutions, airlines, and SMEs if implemented effectively.
However, analysts note that the real strategic significance of Muizzu’s visit lies in economic diplomacy and investment. With the Maldives aggressively seeking foreign capital for infrastructure and housing projects, Sri Lankan construction companies, energy firms, and logistics operators could position themselves to capture new contracts.
Conversely, Sri Lanka, now stabilising after years of economic crisis, hopes to attract Maldivian investors to its hospitality, real estate, and port-related ventures.
Politically, the visit is being closely watched given President Muizzu’s 2023 election campaign, which emphasised an “India-Out” stance and a renewed tilt towards China’s Belt and Road Initiative.
Since taking office, some of the anti-India rhetoric has softened, but the Maldives’ shifting geopolitical alignment still affects regional dynamics. Strengthening ties with Sri Lankatraditionally a neutral and pragmatic partne offers Malé a way to diversify its diplomatic footprint and reduce overdependence on any single major power.
For Sri Lanka, reinforcing relations with the Maldives is equally important. Colombo seeks to project stability and economic recovery, and deeper engagement with a wealthy tourism-driven neighbour can support foreign exchange inflows, create investment confidence, and enhance its role as a regional hub for education, healthcare, and aviation.
As both countries confront economic uncertainty and geopolitical competition in the Indian Ocean, President Muizzu’s December visit has the potential to transform a historically quiet partnership into a more strategic and mutually beneficial alliance if the promised MoUs translate into tangible results.
