CA Maldives has Joined the Belt and Road National Accounting Standards Cooperation Initiative and the Cooperation Forum on 5th June 2024.
The Belt and Road National Accounting Standards Cooperation Initiative was formed in 2019 with the primary mandate of establishing standardized accounting practices among countries involved in the Belt and Road Initiative (BRI). This initiative aims to enhance transparency, facilitate investment, and promote economic cooperation among member countries. Currently, the initiative includes 11 member countries, all committed to streamlining accounting standards to ensure compatibility and ease of cross-border transactions within the Belt and Road Initiative framework. Through this initiative, participating nations collaborate to develop common accounting principles and procedures tailored to the diverse needs of its projects, fostering trust and efficiency in financial reporting.
The Cooperation Forum serves as a platform for stakeholders to discuss and address key challenges and opportunities related to the Belt and Road Initiative. Scheduled annually, this year’s forum will take place on 23rd July 2024 .The forum gathers government officials, industry leaders, academics, and other relevant parties to share insights, best practices, and strategies for maximizing the benefits of the initive’s projects. Topics of this forum typically include infrastructure development, investment opportunities, policy coordination, and sustainable development. The forum not only fosters dialogue and collaboration but also serves as a catalyst for forging new partnerships and initiatives aimed at advancing the goals of the Belt and Road Initiative.
As the National Standards Setter of the Maldives, CA Maldives is excited to collaborate with other participants in the Initiative to strengthen the accounting profession in the region and contribute towards the initiative’s vision