India, Maldives Sign Multiple MoUs During PM Modi's Visit; Agree on Free Trade Agreement Framework

Male – Prime Minister Narendra Modi held extensive talks with Maldivian President Mohamed Muizzu in Male on Friday, as both leaders reviewed the full spectrum of India-Maldives ties and reaffirmed their commitment to deepening the bilateral partnership.

The Ministry of External Affairs (MEA) said in a post on X that the two leaders discussed collaboration in several key areas including development partnership, capacity building, healthcare, infrastructure, digital economy, aquaculture, climate change, and renewable energy. They also emphasized closer cooperation to promote peace, progress, and prosperity in the Indian Ocean region.

The leaders reviewed the progress made under the India-Maldives Joint Vision for a ‘Comprehensive Economic and Maritime Security Partnership’, which was adopted in 2024.

This visit marks Prime Minister Modi’s third trip to the Maldives, having previously visited in 2018 and 2019. It is also the first visit by any Head of State or Government since President Mohamed Muizzu assumed office in November 2023.

Following the high-level discussions, India and Maldives announced their agreement on the Terms of Reference for a proposed India-Maldives Free Trade Agreement (FTA). They also signed multiple Memorandums of Understanding (MoUs), including in the fields of fisheries and aquaculture.

Among the significant outcomes:

• An agreement was signed for a Line of Credit (LoC) worth ?4,850 crore from India to Maldives.

• An amendatory agreement was reached to ease Maldives’ annual debt repayment on earlier Indian LoCs.

• The Indian Institute of Tropical Meteorology (IITM) and Maldives Meteorological Services (MMS) signed an MoU for scientific cooperation.

• Another MoU was signed between India’s Ministry of Electronics and IT and Maldives’ Ministry of Homeland Security and Technology to share successful large-scale digital solutions for digital transformation.

• The two countries signed a MoU for recognition of Indian Pharmacopoeia (IP) standards by Maldives.

• India’s NPCI International Payments Limited (NIPL) and the Maldives Monetary Authority (MMA) signed a Network-to-Network agreement to enable UPI-based payments in Maldives.

Earlier in the day, PM Modi was welcomed with full state honors at Republic Square in Male, including a ceremonial guard of honour. President Muizzu was present during the formal welcome.

In a warm gesture, President Muizzu personally received PM Modi at the airport upon his arrival from the United Kingdom. Several senior Maldivian ministers, including those for foreign affairs, defence, finance, and homeland security, were also present at the airport to greet the Indian leader.

Expressing gratitude, PM Modi wrote on X:
"Landed in Male. Deeply touched by the gesture of President Muizzu to come to the airport to welcome me. I am confident that India-Maldives friendship will scale new heights of progress in the times to come."

On Saturday, PM Modi will attend the Maldives' 60th Independence Day celebrations as the Guest of Honour, further strengthening the symbolic significance of this visit.

With inputs from IANS