ISLAMABAD — Pakistan and the Maldives exchanged 20 agreements and memorandums of understanding (MoUs) on Wednesday, October 21, 2026, as the two countries announced a target of increasing bilateral trade to $200 million within the next two years.
Prime Minister Shehbaz Sharif and Maldivian President Dr Mohamed Muizzu witnessed the exchange of previously signed documents at the Prime Minister's House in Islamabad, following talks on expanding economic, defence and institutional cooperation.
The agreements cover trade, information technology, artificial intelligence, cybersecurity, healthcare, education, agriculture, tourism and maritime security, among other sectors.
According to Dawn's October 21 report, Shehbaz Sharif said the two countries had considerable room to expand economic cooperation despite their longstanding diplomatic relationship.
President Muizzu endorsed the trade ambition and emphasised the need to turn the agreements into practical benefits. Neither government announced that the $200 million target had already been achieved.
Pakistan and Maldives Aim for $200 Million in Trade
Speaking after bilateral and delegation-level discussions, Shehbaz Sharif said Pakistan and the Maldives wanted to raise bilateral trade to $200 million over the next two years.
He put the existing trade figure at $13.9 million, according to contemporary reports of his remarks. The figure is attributed to the prime minister and has not been independently established as the latest audited bilateral trade total.
The announcement did not clearly specify whether the $200 million target referred to annual trade at the end of the two-year period or another measurement basis. It should therefore be understood as the governments' stated trade objective rather than a confirmed financial commitment.
The scale of the proposed increase illustrates the challenge facing both countries, particularly given their relatively limited commercial relationship.
The Pakistan Business Council's 2024–25 market-access study recorded approximately $9.4 million in bilateral goods trade in 2023, including around $9.2 million in Pakistani exports.
That historical figure covers merchandise trade for a different reporting year and should not be treated as directly comparable to the broader trade figure cited by the prime minister.
The study identified opportunities for Pakistani suppliers in food products, pharmaceuticals, agricultural goods and other commodities, while also pointing to potential growth in technology-related services.
What Do the 20 Cooperation Agreements Cover?
The cooperation documents span government services, commercial links and programmes intended to strengthen ties between Pakistani and Maldivian institutions.
Technology-related agreements cover information technology, artificial intelligence, cybersecurity, digital skills and innovation.
Other arrangements address defence cooperation, maritime security, police training, civil service development, social protection and efforts to combat illicit drug trafficking.
Healthcare cooperation includes an arrangement involving the Drug Regulatory Authority of Pakistan and the Maldives Food and Drug Authority, alongside cooperation concerning the recruitment of medical professionals.
Education, technical and vocational training, agriculture, fisheries, environmental protection, tourism, youth development, sports and cultural exchanges are also included.
One trade-related agreement links the Trading Corporation of Pakistan with the Maldives State Trading Organisation, with a focus on agricultural commodities, food and other products.
A Maldivian report detailing the agreements also confirmed cooperation involving air services, educational institutions and regulatory agencies.
However, exchanging cooperation documents does not establish that commercial orders have been placed, investment funds transferred or new projects completed.
Shehbaz Sharif promised to support timely implementation, while Muizzu stressed that the agreements should ultimately be judged by the results they produce for people in both countries.
Air Connectivity and Shipping Remain Major Trade Obstacles
Improving transport links could be important if the two countries are to expand trade significantly.
The Pakistan Business Council identified the absence of direct shipping and air routes as a major obstacle for Pakistani businesses seeking to supply the Maldives.
As an island economy that depends heavily on imported food, fuel and consumer goods, the Maldives offers potential opportunities for suppliers able to provide competitive products and reliable deliveries.
The October 21 cooperation agenda includes air connectivity, while Muizzu welcomed ongoing discussions on establishing direct flights between the two countries.
However, the announcements reviewed did not confirm an operational new service, airline, route or launch date.
Muizzu also highlighted opportunities in tourism, including services designed for Muslim travellers.
A Maldives-Pakistan Business Forum was scheduled for Thursday, October 22, to encourage direct discussions between companies, investors and other commercial representatives.
Pakistan's Deputy Prime Minister and Foreign Minister Ishaq Dar welcomed the participation of the Maldivian business delegation, according to an official statement from the Press Information Department.
The governments expressed hope that business-to-business contacts would generate trade and investment opportunities. No aggregate value of new contracts resulting from the forum had been established in the October 21 announcements.
Technology, Healthcare and Environmental Cooperation
Pakistan also offered to share technical expertise with the Maldives as the island nation works towards developing data centres.
Shehbaz Sharif said Pakistani professionals had developed relevant capabilities and that Islamabad was willing to share its experience. No data-centre construction contract or confirmed project value was announced.
Healthcare and education featured in the talks. The prime minister referred to approximately 250 Pakistani doctors working in the Maldives alongside Pakistani paramedics. That figure came from his remarks and was not independently verified as a current medical workforce count.
Muizzu discussed expanding medical education opportunities for Maldivian students, including potential additional MBBS placements and internships in Pakistan for medical graduates. No confirmed allocation of new places was announced.
In environmental cooperation, Shehbaz Sharif announced plans to provide 100,000 olive cuttings and 100,000 seeds of various plant species in support of the Maldives' programme to plant five million trees.
The assistance was to be provided according to a mutually agreed timetable. Its delivery was not confirmed at the ceremony.
Muizzu's Visit Marks 60 Years of Diplomatic Relations
President Muizzu arrived in Pakistan on October 20 with First Lady Sajidha Mohamed and a high-level delegation of ministers and officials.
According to the Maldivian President's Office, his state visit runs from October 20 to 22 and coincides with the 60th anniversary of diplomatic relations, established on July 26, 1966.
It is the first visit by a Maldivian president to Pakistan in 11 years.
Muizzu also met Ishaq Dar in Islamabad, with both sides discussing trade, investment, education, tourism and climate-related cooperation. The Maldivian President's Office confirmed the meeting.
The latest agreements broaden the framework for cooperation between Pakistan and the Maldives. Their economic impact will depend on whether government agencies and businesses implement the arrangements, improve transport links and establish new commercial relationships.
For now, $200 million remains an announced trade target for the next two years, not a confirmed amount of trade generated by the agreements.
