The Ministry of Economic Development, Transport and Trade has stated that the Maldives is exploring alternative international markets for importing essential goods to reduce dependence on a single source.

Speaking on the Trade Desk programme, Consultant for Trade and Investment Shuhad Ibrahim said the Government is working to strengthen supply chain resilience amid growing global uncertainty. He noted that one of the major global concerns linked to the ongoing conflict involving Iran is the potential disruption to oil supplies and rising fuel prices.

According to Shuhad, discussions with fuel importers have allowed the State Trading Organization (STO) to continue supplying oil at subsidised rates. He added that the Government remains focused on maintaining the availability of basic necessities at affordable prices, while also working to diversify import sources for essential commodities.

Shuhad said the conflict is affecting economies around the world and that the Maldives is taking measures to minimise the impact on the country.

Tensions in the Middle East have raised concerns globally over energy security, trade disruptions and increasing costs of essential goods due to instability in major oil-producing regions.