Paper: GS – II, Subject: International Relations, Topic: India and Its Neighbourhood, Issue: India – Maldives Relations.
Context:
India and the Maldives have renewed their ties after 20 months of strain, with PM Modi’s visit as Guest of Honour on Maldives’ Independence Day.
- The visit marked a new phase of cooperation in defence, trade, infrastructure, and regional security under India’s ‘Neighbourhood First’ policy.
Key Takeaways:
Key Highlights of the Modi-Muizzu Meeting:
- Line of Credit: Prime Minister Modi announced a Rs 4,850-crore line of credit to the Maldives, demonstrating India’s commitment to supporting the island nation’s economic development.
- Free Trade Agreement (FTA) Talks: India and the Maldives have agreed to commence negotiations for a free trade agreement.
- This move aims to boost bilateral trade and economic cooperation between the two countries.
- Bilateral Investment Treaty: Both countries will work towards finalizing a bilateral investment treaty, which is expected to further enhance investment flows and economic partnerships.
- Defense Cooperation: Modi reiterated India’s commitment to supporting the Maldives in strengthening its defense capabilities.
- This underscores the mutual trust and cooperation in the area of security.
- Regional Maritime Security: Both leaders emphasized the importance of peace, stability, and prosperity in the Indian Ocean region.
- They agreed to strengthen regional maritime security through the Colombo Security Conclave.
Significance of the Improved Relationship:
- Economic Benefits: The line of credit, FTA talks, and bilateral investment treaty are expected to boost economic cooperation and trade between India and the Maldives.
- Security Cooperation: Enhanced defense cooperation will contribute to regional maritime security and help address common security challenges.
- Strategic Importance: A strong relationship with the Maldives is strategically important for India, given the island nation’s location in the Indian Ocean.
- Regional Stability: Improved ties between India and the Maldives can contribute to greater stability and cooperation in the South Asian region.
Challenges and Wat Ahead in India – Maldives Relations:
https://indianexpress.com/article/india/pm-modi-proud-most-trusted-friend-maldives-10149558
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