Prime Minister Narendra Modi arrived in Maldives on Friday on his two-day visit. Maldives President Mohamed Muizzu welcomed PM Modi at the airport.
After this, delegation talks were held in Male in the presence of the heads of both countries and then both jointly addressed the press.
Entire region will emerge as a key transit and economic center
PM Modi said that four thousand social housing units built with the cooperation of India will now become a new beginning for many families in Maldives. They will be new homes. With the Greater Male Connectivity Project, Addu road development project, and the redeveloped Hanimaadhoo International Airport, this entire region will emerge as an important transit and economic center.
Ferry system will make movement between islands easier
PM said that soon with the introduction of the ferry system, movement between different islands will become easier. After that the distance between islands will not be measured by GPS, but only by ferry time!
Increase in Line of Credit to Maldives
PM Modi said, to give a new flight to our development partnership, we have decided to give a "Line of Credit" of $ 565 million, i.e. about five thousand crore rupees, to Maldives. This will be used for projects related to the development of infrastructure here, in accordance with the priorities of the people of Maldives.
Bilateral Investment Treaty to be finalized
PM said we have taken several steps to boost our economic partnership. To accelerate mutual investment, we will soon work towards finalizing the Bilateral Investment Treaty. Negotiations on a free trade agreement have also begun. Now our goal is - From paperwork to prosperity!
Local currency settlement system will enable direct trade in Rupees and Rufiyaa. The speed with which UPI is being promoted in Maldives will give strength to both tourism and retail.
Prime Minister Narendra Modi said, "This year India and Maldives are also celebrating the 60th anniversary of their diplomatic relations, but the roots of our relations are older than history and as deep as the ocean."
PM said climate Change is a big challenge for both of us. We have decided to promote renewable energy. India will share its experience with Maldives in this field.
Negotiations on a free trade agreement
Meanwhile, Maldives President Mohammad Muizzu said, "I am happy to announce the start of negotiations on a free trade agreement between India and Maldives. This historic initiative is an important step towards strengthening our economic partnership."
Mohammad Muizzu said, "This visit of the Prime Minister is taking place on two important occasions. Tomorrow, Prime Minister Modi will join me in the 60th Independence Day celebrations of Maldives. Today, we have jointly released a commemorative postage stamp."
Prakash Kumar Pandey