Managing Director of State Trading Organization, Shimad Ibrahim, has said efforts are underway to secure construction materials for the Maldives through alternative markets amid supply disruptions caused by the ongoing conflict in the Middle East.

Speaking on the “Trade Desk” podcast organised by the Ministry of Economic Development, Transport and Trade, Shimad said the conflict has affected the availability of key construction materials sourced from the region, resulting in shortages and rising prices in the local market.

He noted that a significant share of cement and aggregates imported to the Maldives comes from Middle Eastern countries. Most aggregates are imported from Fujairah in the United Arab Emirates, while the majority of cement imports come from Oman.

Shimad said supply constraints in the region have also driven up prices, while sourcing materials from alternative markets has become increasingly difficult due to higher demand from Middle Eastern countries themselves.

Despite the challenges, he said STO is working with suppliers and businesses in other markets to maintain the supply of construction materials to the Maldives.

He added that while materials remain available, prices are considerably higher than they were before the conflict began.

Shimad also said STO is continuing the distribution of construction materials across the country. He said materials are being unloaded and supplied to businesses through Thilafushi, while STO vessels are transporting construction materials to islands across the atolls.