India and the Maldives have reaffirmed their strong bilateral relationship with a series of agreements and discussions focused on economic development, security cooperation, and regional stability. During a five-day visit to India, Maldivian President Ibrahim Mohamed Solih was warmly welcomed by Indian Prime Minister Narendra Modi. The visit showcased the close bond between the two nations and the shared commitment to a prosperous and secure Indian Ocean region.
A key highlight of the visit was the introduction of the RuPay card in the Maldives. This initiative underscores the growing economic partnership between the two countries and facilitates easier financial transactions. Prime Minister Modi also announced the launch of discussions on a Free Trade Agreement, which could further boost trade and investment between the two nations.
The leaders also stressed the importance of their shared vision for a comprehensive economic and maritime security partnership. This encompasses a wide range of areas, including development cooperation, trade, digital and financial initiatives, energy projects, health cooperation, and maritime and security cooperation.
India has long been a key partner in the Maldives’ socio-economic and infrastructure development. During the visit, Prime Minister Modi highlighted India’s commitment to supporting the Maldives, including through a recent currency swap agreement and the handover of over 700 social housing units built with Indian assistance. The visit also saw discussions on the potential for opening an Indian consulate in Addu and a Maldivian consulate in Bengaluru, further strengthening diplomatic ties.
Addressing the shared challenge of climate change, Prime Minister Modi expressed India’s willingness to share its expertise with the Maldives in areas like solar energy and energy efficiency.
In terms of security cooperation, both leaders emphasized the importance of working together to ensure stability and prosperity in the Indian Ocean region. The visit saw progress on the Ekatha Harbour project and renewed commitment to training and capacity building for the Maldives National Defence Forces.
President Solih expressed his gratitude for India’s longstanding support and assistance, acknowledging India’s crucial role in the Maldives’ development. He thanked India for its generous support, including the recent currency swap agreement, which will help address the Maldives’ current foreign exchange challenges.
The visit served as a testament to the enduring friendship and shared interests between India and the Maldives, highlighting the commitment to a strong and multifaceted partnership for the benefit of both nations. It also underscores the importance of India’s ‘Neighborhood First’ policy and its role in promoting stability and development in the Indian Ocean region.
