Modi, Muizzu agree on FTA roadmap as India, Maldives sign key MoUs

India and Maldives signed multiple MoUs and agreed on FTA Terms of Reference during PM Modi’s visit to Male. Key agreements include digital payments via UPI, Rs 4,850 crore Line of Credit, and partnerships in aquaculture, pharma, and meteorology

Male: Prime Minister Narendra Modi on Friday held wide ranging talks with Maldives President Mohamed Muizzu at the President’s Office in Male as both leaders reviewed the entire spectrum of India-Maldives relations and reaffirmed their commitment to further strengthening bilateral ties.

“They discussed cooperation in the fields of development partnership, capacity building, health, infrastructure, digital economy, aquaculture, climate change and renewable energy. The two leaders called for closer collaboration to enhance peace, progress and prosperity of the Indian Ocean region,” the Ministry of External Affairs (MEA) posted on X after the bilateral discussions.

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The leaders also took stock of the progress in the implementation of the India-Maldives Joint Vision for a ‘Comprehensive Economic and Maritime Security Partnership’ adopted in 2024.

This is Prime Minister Modi’s third visit to Maldives – he had visited the Indian Ocean archipelago in 2018 and 2019, earlier – and the first by a Head of State or Government to Maldives during the Presidency of Mohamed Muizzu which began in November 2023.

Both countries announced later that they have agreed on Terms of Reference of the India-Maldives Free Trade Agreement (FTA) and also signed several Memorandums of Understanding (MoU), including in the fields of fisheries and aquaculture.

The two nations also signed an agreement for a Line of Credit (LoC) of INR 4,850 crores to Maldives besides an amendatory agreement on reducing annual debt repayment obligations of Maldives on Government of India-funded LoCs.

An MoU was also signed between the Indian Institute of Tropical Meteorology (IITM), Ministry of Earth Sciences and the Maldives Meteorological Services (MMS), Ministry of Tourism and Environment.

The two nations also signed a MoU on cooperation in the field of sharing successful digital solutions implemented at population scale for Digital Transformation between the Ministry of Electronics and IT of India and Ministry of Homeland Security and Technology of Maldives.

Both nations also signed an MoU on recognition of Indian Pharmacopoeia (IP) by Maldives. Network-to-Network Agreement between India’s NPCI International Payment Limited (NIPL) and Maldives Monetary Authority (MMA) on UPI in Maldives was also signed during PM Modi’s visit to Maldives.

Earlier in the day, PM Modi was accorded a ceremonial welcome and guard of honour at the Republic Square in Male as he began his official engagements during a two-day State Visit to the country. Maldives President Mohamed Muizzu was also present on the occasion.

Children performed a dance to welcome PM Modi at the venue and the ceremonial welcome was followed by a meeting between the two leaders.

In a special gesture, President Muizzu welcomed PM Modi at the airport in Male as he arrived from the United Kingdom. Maldives Foreign Minister, Defence Minister, Finance Minister and Minister of Homeland Security were also present at the airport to welcome PM Modi.

PM Modi said that he is “deeply touched” by Muizzu’s gesture of coming to the airport to receive him. He expressed confidence that the ties between two nations will scale new heights of progress in the coming times.

“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,” PM Modi posted on X.

PM Modi will participate in the country’s 60th Independence Day celebrations as the Guest of Honour on Saturday. This is his third visit to the Maldives and notably the first by any head of state or government since Muizzu assumed office.