Caltex Strengthens its Position in the Maldives

maldives

May 22, 2006 : Kishu Gomes, Managing Director of the leading lubricant marketer in Sri Lanka – Caltex Lubricants Lanka Limited on his recent visit to the Maldives held discussions with the Deputy Minister of Economic Development and Trade Mr. Abdulla Salih as an initiative to further enhance Caltex’s position in the Maldivian market. This move comes in the wake of the country’s ‘Vision 2020’ to be one of the top-ranking nations amongst middle-income developing countries by the year 2020.

 

In a previous address to the nation, President M. A. Gayoom said, “By the year 2020 the Maldives will have established the most conducive conditions for brisk commerce and economic activity, and will have become the hub of regional free trade. The country will have a more diversified economy with export-oriented trade in services and industrial development."

 

Initiatives have already been undertaken to enhance exports in to the country and further developments have also been made in the country’s tourism industry to encourage greater inflows of foreign investments. Steps are also underway to develop in technology as a means of facilitating continued progress and providing modern conveniences to the people of Maldives.

 

Supporting the plans by the Maldivian government, Caltex Lubricant Lanka Limited will extend its existing agreements with distributors in the Maldives to increase exports over the next few years to the country. Mr. Gomes is to hold subsequent discussions with Maldivian government officials to discuss further actions by the company as a means to grow the company and the Maldivian economy.

 

Caltex is an organization that is committed in conducting business in a socially responsible and ethical manner, respecting the law, supporting universal human rights, protecting the environment and benefiting the communities in which it operates. In this awake, Caltex will work closely with the Maldivian government to ensure such standards are met, benefiting the Maldivian economy and aligning with its vision.

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