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Line of credit, trade talks, direct flights: Modi, Muizzu mark turnaround in ties | Current Affairs | Vision IAS

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Line of credit, trade talks, direct flights: Modi, Muizzu mark turnaround in ties

2 min read

India-Maldives Bilateral Relations

The prime minister announced a Rs 4,850-crore line of credit to the Maldives, emphasizing India's position as the most trusted friend of the island nation. 

Key Announcements and Agreements

  • India is launching talks on a Free Trade Agreement (FTA) with the Maldives, following the recent sealing of an FTA with the United Kingdom.
  • Both countries aim to finalize a bilateral investment treaty quickly.
  • Discussions focused on cooperation in trade, defense, and infrastructure.
  • Four Memorandums of Understanding (MoUs) and three agreements were exchanged.
  • India handed over 3,300 social housing units in Hulhumale and inaugurated a roads and drainage system project in Addu.
  • An agreement on cooperation in fisheries and aquaculture and sharing successful digital solutions was signed.

Mutual Cooperation and Security

  • The prime minister highlighted the importance of peace, stability, and prosperity in the Indian Ocean region, with intentions to bolster regional maritime security through the Colombo Security Conclave.
  • The president of the Maldives noted India's role as a key market for Maldivian tourism and expressed interest in enhancing cooperation in tourism through direct flights.

Environmental and Technical Cooperation

  • Discussions included technical support and capacity building in waste management, biodiversity conservation, renewable energy, and water and sanitation.
  • India will provide 72 heavy vehicles to the Maldivian Ministry of Defence.

Strengthening Diplomatic Ties

  • The visit marked a significant improvement in diplomatic relations, which had previously been strained following the current presidency and initial demands to withdraw Indian military personnel from the Maldives. 
  • India's consistent support during economic challenges has helped restore the bilateral ties. 
  • To commemorate 60 years of diplomatic relations, both leaders released a commemorative stamp. 
  • Tags :
  • India-Maldives
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