Maldivian catch finds Sri Lankan shelf in new seafood tie-up

 Maldivian President Mohamed Muizzu (Fourth from left) and Minister of Trade Wasantha Saamrasinghe (third from right) with Ministry, MIFCO, and DICL officials at the launch of Fasmeeru in Colombo.

Pic by Nisal Baduge

By Shabiya Ali Ahlam

Sri Lanka yesterday saw the entry of Maldivian state-backed fisheries firm MIFCO’s premium tuna brand ‘Fasmeeru’, a move expected to boost value-added seafood trade and strengthen supply chains between the two Indian Ocean economies.

The launch, under an exclusive distribution agreement with Development Interplan Ceylon Ltd (DICL), positions Sri Lanka as a key downstream market for Maldivian processed seafood, while opening new channels for hospitality and retail sectors to access premium, sustainably sourced tuna.

Officials at the Colombo launch, attended by Maldivian President Mohamed Muizzu, said the tie-up could deepen commercial linkages in fisheries, a core sector for both economies. The shift from bulk exports to branded, higher-margin products would pave the way to boost foreign exchange earnings for the Maldives while expanding product diversity for Sri Lanka’s food and tourism industries.

According to MIFCO Managing Director Mohamed Anas, Sri Lanka offered strong market potential driven by consumption trends and sector growth.

“Sri Lanka is a valued and important market for us, one with a strong culinary tradition and a growing demand for trusted, high-quality food products. We are confident that Fasmeeru products will earn their place in households across the country,” Anas said.

For the Maldives, the expansion aligns with broader efforts to increase value addition in its fisheries sector, a major contributor to export revenue, by scaling branded product penetration in regional markets.

On the Sri Lankan side, the partnership is expected to support the tourism-linked HORECA segment, which has been recovering alongside visitor arrivals, by widening access to premium seafood inputs, while also strengthening retail offerings.

DICL CEO Zuraish Hashim noted the agreement builds on longstanding trade facilitation between the two countries and reflects a shift towards structured, scalable distribution.

“Today’s launch is not just about a brand. It reflects a relationship built over more than seven decades,” Hashim said, referring to the group’s historical role in connecting Sri Lankan and Maldivian markets.

Under the agreement, DICL will initially focus on the hotel, restaurant and catering segment before expanding distribution through its planned retail and wholesale platform, aiming to widen consumer access across the country.

The Sri Lankan and Maldivian governments seek to deepen regional trade integration and enhance food security, with fisheries emerging as a key avenue for collaboration given shared ocean resources and complementary market strengths.

The partnerships is a step forward in improving supply chain resilience within the Indian Ocean region, particularly as global food trade faces increasing volatility, while creating opportunities for private sector-led growth in processing, logistics and distribution.