The Maldives hosts a side event on building Productive Capacity for SIDS in the sidelines of the 79th session of the UN General Assembly

The Maldives, in collaboration with Saint Vincent and the Grenadines and the United Nations Trade and Development (UNCTAD), hosted a Side Event titled “Building Productive Capacity in Small Island Developing States (SIDS)” during the High-Level Segment of the 79th Session of the United Nations General Assembly, today.

During the side event, President Dr Mohamed Muizzu delivered the keynote remarks. The President highlighted that while some States enjoy the benefits of economic growth, others have struggled at the same time. He noted that countries like the Maldives can only reach the next stage of their development through the introduction of new industries and by closing the technological gap between countries. 

Minister of Foreign Affairs, Moosa Zameer delivered remarks at the panel discussion that followed. In his remarks, Minister Zameer emphasised the significant role of Productive Capacity Index (PCI) that will enable Maldives to develop its own economic development model in the next stages of its journey to become an advanced economy and a land of opportunity. Recognising the unique challenges in terms of growth due to climate change related shocks to our economy, Minister Zameer expressed that the dialogue would lead to an inflow of investment and belief in the Maldives, ushering in a new age of development.

The panel discussion on the subject was moderated by the Permanent Representative of Maldives to the United Nations Ambassador Ali Naseer Mohamed. The panellists were the Minister of Foreign Affairs, Cooperation, and Regional Integration of Cabo Verde, Dr. Rui Alberto de Figueiredo Soares, the Parliamentary Under-Secretary of State for Foreign, Commonwealth and Development Affairs of the United Kingdom, Lord Collins of Highbury, and the Deputy Secretary General of UNCTAD, Pedro Manuel Moreno. The panellistsdiscussed the importance of international cooperation and partnership in building climate-resilient economies in SIDS and explored how the Productive Capacity Index can support SIDS in assessing and improving productive capacity.The purpose of this side event was to call for early implementation of “The Antigua and Barbuda Agenda for Small Island Developing States” (ABAS) which was adopted during the Fourth International Conference on Small Island Developing States (SIDS4), held earlier this year in Antigua and Barbuda.