Maldives signs eight key agreements with India

Maldives and India have signed eight key agreements, including those related to free trade and the introduction of India's Unified Payments Interface (UPI) services in Maldives.

The agreements were signed during Indian Prime Minister Narendra Modi’s official visit to the Maldives today, his first visit to the country since beginning his third term in office.

The signing ceremony took place at President’s Office following a bilateral meeting between President Dr Mohamed Muizzu and Prime Minister Modi. The agreements were exchanged in the presence of both leaders.

India’s External Affairs Minister Dr S. Jaishankar signed the agreements on behalf of the Indian government, while relevant Maldivian ministers signed on behalf of Maldives.

1. Terms of Reference of the India-Maldives Free Trade Agreement (FTA)

2. Agreement for an Line of Credit of USD 565 million to Maldives through India's Exim Bank

3. Amendatory Agreement on reducing annual debt repayment obligations of Maldives on Indian Government funded Line of Credits

4. MoU on cooperation in the field of Fisheries and Aquaculture

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

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

7. MoU on recognition of Indian Pharmacopoeia (IP) by Maldives

8. Network-to-Network Agreement between India’s NPCI International Payment Limited (NIPL) and Maldives Monetary Authority (MMA) on UPI in Maldives

Prime Minister Modi arrived in Maldives earlier this morning at the invitation of President Muizzu.

He was warmly received at Velana International Airport and given a ceremonial welcome later at Republic Square.

PM Modi is set to inaugurate the new Defence Ministry building, constructed with Indian grant assistance participate as chief guest at the Maldives’ 60th Independence Day celebrations tomorrow evening.