Governments of Maldives and Sri Lanka have expressed interest in conducting a joint mariculture project.

Lanka national news portal reported on Tuesday that the discussions were held during a meeting held between Maldivian finance minister Abdulla Jihad and Sri Lankan minister for industries and commerce Rishad Bathiudeen during Minister Jihad’s current visit to the country.

During the meeting held in Minister Bathiudeen’s office, Finance Minister Jihad had expressed the government’s wish to expand Maldivian fisheries industry and develop mariculture; and said he believed Sri Lanka to be a good partner for the endeavor.

Noting the development of sea cucumber business in the world, Minister Jihad said both countries could join together and profit from the business.
He said that research showed Lankan environment was ideal for the business, and that sea cucumbers could be harvested double the quantity to that of Maldives.

“We are currently conducting a temporary project with a Lankan mariculture company to produce sea cucumbers in Minister Bathiudeen’s hometown – Mannar district. I am happy to say the results of this project are very good. The project can be carried out jointly by the two countries. Both countries will profit from this,” said the Maldivian finance minister.

Minister Bathiudeen had provided assurances of Sri Lankan government’s full cooperation in the project, and had asked for details regarding the project.
He also said that cooperatives could be set up at Mannar to carry out the sea cucumber project.

While both countries have expressed interest in a joint mariculture project, fish products make up for a large percentage of the approximately USD 72 million business transactions between the two countries each year.
Statistics show 81 percent of Maldivian export to Sri Lanka to be fish products.

Discussions for a joint mariculture project between Maldives and Sri Lanka comes after Fisheries Ministry opened the opportunity for interested parties to send in proposals to set up a mariculture joint venture company back in October.

Some of the activities to be carried out by the joint venture company include setting up a commercial multispecies hatchery and long time running of the hatchery.