Maldives, Sri Lanka discuss mariculture joint venture

Discussions have taken place at ministerial level between Maldives and Sri Lanka regarding the establishment of a regional joint venture in mariculture.

According to the Official Government News Portal of Sri Lanka, the discussions were held at the Ministry of Industry and Commerce in Colombo yesterday between an official delegation from Maldives currently visiting Colombo, led by Minister of Finance and Treasury Abdulla Jihad; and an official Sri Lankan team led by Minister of Industry and Commerce of Sri Lanka Rishad Bathiudeen.

“Our government is very keen to diversify our fishery as well as mariculture. We believe that Sri Lanka could be a viable and a great partner with us in this project. Sea cucumber has a growing international market,” said Jihad while addressing the Sri Lankan delegation.

Jihad further said that Maldives was already doing an experimental sea cucumber project in Mannar in collaboration with a Sri Lankan mariculture firm, and that research has shown that due to the quality of salinity and ocean mud, sea cucumber grows twice as fast in Sri Lankan ocean water.

Sri Lankan Minister Bathiudeen, on behalf of his ministry and regional officials, assured to extend any form of assistance required by Maldives in this regard.

“…I suggest that we can organise sea cucumber farming communities in Mannar areas such as cooperatives so that they can gain the full benefits of this new venture,” Bathiudeen said.

Total trade between Maldives and Sri Lanka, according to the Department of Commerce of Sri Lanka, stood at $50.64 million in 2010, and increased to $72 million in 2013 - recording an increase of over 40 percent.