The decision is part of Bangladesh's strategy to expedite exports by bypassing the overburdened Indian ports, opting for Maldivian ports as a faster alternative.
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For generations, the Maldives has relied on two main sectors to drive revenue: the tourism and fishing industries. While fishing has been the traditional lifeline of the Maldives, over time, tourism has become the primary revenue generator, making it the backbone of the Maldivian economy. However, the COVID-19 pandemic highlighted the vulnerabilities of relying solely on tourism, especially when external events such as natural or man-made disasters bring international travel to a halt. As a result, the Maldives has increasingly sought alternative revenue streams to strengthen economic resilience.
And now, Bangladesh, the world’s second-largest garment manufacturer after China, has now officially started exporting garments through Maldivian ports. This is no small step towards an amazing avenue for the Maldives to venture into a possible revenue stream as Bangladesh is known as the second largest manufacturer of garments globally after China. Popular brands such as H&M, Zara, Tommy Hilfiger, Calvin Klein, and Levi’s rely on Bangladeshi manufacturers, highlighting the potential of this new trade route for the Maldives.
The decision is part of Bangladesh's strategy to expedite exports by bypassing the overburdened Indian ports, opting for Maldivian ports as a faster alternative. Previously, Bangladesh was exporting the garments via Indian ports, which has now become busier leading to major delays. With this, Bangladesh has opted to export the garments through Maldivian ports, via Qatar Airways, Aeroflot, Emirates, Gulf Air, Neos Airline, and Etihad.
