The Maldives, long known for its dried fish tradition, yesterday marked a major milestone with its state-owned MIFCO launching premium tuna products in Sri Lanka in partnership with Development Interplan Ceylon Ltd. (DICL), in the presence of visiting Maldivian President Mohamed Muizzu as Chief Guest.
The initiative saw the Maldives Industrial Fisheries Company Ltd. (MIFCO) introduce its premium tuna brand, Fasmeeru, to the Sri Lankan market, formalising an exclusive distribution agreement with DICL.
The event was attended by President Muizzu, Maldivian Minister of Fisheries, Agriculture and Ocean Resources Ahmed Shiyam, MIFCO CEO and Managing Director Mohamed Anas, along with Sri Lanka’s Minister of Trade, Commerce, Food Security and Cooperative Development Wasantha Samarasinghe, and Minister of Fisheries, Aquatic and Ocean Resources Ramalingam Chandrasekar.
This launch marks the official entry of Maldives’ premium tuna products into Sri Lanka, with DICL appointed as the exclusive local distributor for Fasmeeru. The range includes canned and packaged tuna products and other Maldivian seafood delicacies produced to international standards.
Through the partnership, DICL will focus on expanding market reach within Sri Lanka’s HORECA sector, supported by its established supply and distribution network. The company also plans to widen consumer access via its upcoming retail and wholesale platform, Zefro, aiming to make sustainably sourced premium seafood more widely available across the country.
Maldivian Fisheries Minister Ahmed Shiyam highlighted the importance of regional cooperation in sustainable fisheries and trade, noting that the launch represents a strengthening of ties between the Maldives and Sri Lanka.
He said the move goes beyond the introduction of Fasmeeru, describing it as a deepening bridge between two close Indian Ocean neighbours, built on shared culture, trade, and long-standing goodwill, as the two countries mark 60 years of diplomatic relations.
The Sri Lanka Japan Business Council Forum explores strategies to unlock Japan’s USD 60 billion market potential
Sri Lanka is significantly underperforming in exports to Japan despite having access to an estimated USD 60 billion market opportunity, policymakers and industry leaders have warned, citing persistent structural and quality-related challenges as key barriers to growth.
The concerns were highlighted at a business forum titled “Exports to Japan: Seizing the Opportunity Now,” organised by the Sri Lanka Japan Business Council. The event brought together officials and exporters to assess both the scale of opportunity in the Japanese market and the constraints limiting Sri Lanka’s trade performance.
The forum opened with a keynote address by Japanese Ambassador to Sri Lanka Akio Isomata, who cautioned that rising global instability could have long-term implications for energy security, urging Sri Lanka to reorient its economic strategy towards Asia.
“I don't think it's a black swan… I think it's a grey rhino. There is going to be increasing volatility and greater instability regarding energy security,” Ambassador Isomata said, warning that such risks could persist for the next 20–30 years.
He also emphasised the importance of accelerating the proposed Sri Lanka–Japan–India industrial corridor, noting that while governments provide the framework, implementation must be driven by the private sector.
The ambassador’s remarks were followed by a panel discussion featuring Department of Commerce Head of Trade Charitha Yattogoda, EDB Chairman Mangala Wijesinghe, Lanka Harness Co. Executive Chairman Dr. Rohan Pallewatte, and BizEx Consulting Managing Director Sunil Wijesinha, moderated by Daily FT CEO Nisthar Cassim.
Maldives is targeting increased demand among Sri Lankans for its premium tuna products
