Permanent Secretary at the Ministry of Economic Development, Transport and Trade, Yusuf Riza, has said the Ministry is working with the State Trading Organization (STO) and major importers to secure essential goods amid ongoing tensions in the Middle East.

He made the remarks on the first episode of the Ministry’s new podcast, Trade Desk.

Highlighting global instability and supply chain disruptions, Yusuf said current efforts are focused on ensuring food security by sourcing essential goods from alternative markets and diversifying supply chains to minimise risks.

Yusuf noted that the Ministry is working closely with STO and other large importers on a regular basis to monitor the availability of essential items and take proactive measures in the event of shortages.

He added that a medium to long-term goal is to establish a nationwide storage network for essential goods, which would enable Maldivian citizens to sustain themselves for up to six months during emergencies.

Addressing concerns over potential price increases, Yusuf said efforts are underway to contain rising costs and limit the impact on consumers, noting that this requires close coordination across Government ministries.

Yusuf also outlined the Economic Ministry’s mandate, stating that its key objective is to improve the ease of doing business in the Maldives through coordination with relevant agencies, while supporting economic growth and diversification.

Speaking on the Ministry’s expanded role in transport, Yusuf said integrating transport with economic planning is a natural step, noting that an efficient transport system is essential for economic activity.

The Permanent Sectary also highlighted the risks of relying heavily on a single sector and the importance of strengthening resilience against external shocks.