Jaishankar’s visit to the Maldives comes shortly after President Muizzu’s trip to India in June to attend the swearing-in ceremony of Prime Minister Narendra Modi’s government.
External Affairs Minister, S.Jaishankar, is on a three-day official visit to the Maldives, marking the first high-level Indian trip since pro-China President Muizzu took office last year.
The visit comes after a period of tense relations between the two countries earlier this year, when three Maldivian ministers and some MPs made disparaging remarks about Prime Minister Narendra Modi.
Male is one of New Delhi’s key players in the ‘SAGAR’ initiative designed to counter Chinese hegemony in the Indian Ocean region.
Let’s unfold some important discussions and projects that took place during the visit:
India to introduce UPI in Maldives
External Affairs Minister S. Jaishankar has announced that India and the Maldives have reached an agreement to implement the Unified Payments Interface in the archipelago nation, which will have a “very positive” impact on the country’s tourism sector.
The memorandum of understanding (MoU) on the digital payment system was signed between the National Payments Corporation of India and the Maldives’ economic development and trade ministry on Friday.
Addressing a press conference with his Maldivian colleague Moosa Zameer, Jaishankar mentioned that UPI has taken financial inclusions to new levels with 40 percent of the world’s real time payments taking place in India.
“We see this revolution every day in our lives. I am pleased to note that with the signing of the MoU today, we have taken the first step towards bringing this digital innovation to Maldives,” he added.
Tourism is the Maldives’ primary economic sector, accounting for approximately 30% of GDP and more than 60% of foreign exchange.
During the joint press conference, Maldivian Foreign Minister Zameer stated, “India has always been one of our closest friends and a vital development partner.” He claimed the “enduring friendship” was founded on mutual trust and respect and has thrived over time.
Key highlights from the visit:
Defense and Security
Maldives’s Foreign Minister Moosa Zameer stated that together, the two sides will continue to work in the fight against terrorism, violent extremism, drugs, and human trafficking in the region.
According to him, continued joint exercises and increased training opportunities for officers from both nations will further strengthen the partnership between India and the Maldives.
This demonstrates “our commitment to working together to ensure the security of our nations as well as ensuring the safety and stability of the Indian Ocean region,” the minister claimed.
“On regional and multilateral issues of importance, our countries have a common understanding and are united in our efforts to resolve them. We agreed to continue our cooperation on issues ranging from combating terrorism, violent extremism, drugs, human trafficking and to the promotion and protection of human rights,” he added.
Emphasizing on Male’s importance, Jaishankar described the Maldives as “one of the cornerstones of ‘Neighbourhood First’ policy.”
Trade
Zameer commended India for giving critical budgetary support to the Maldives through the rollover of $50 million in treasury bills, describing India as a key source market for tourism.
“Minister Dr Jaishankar and I agreed that much more needs to be done to promote trade and investment between the Maldives and India,” he stated, adding that the two countries are committed to developing “effective mechanisms to enhance economic cooperation, fostering a vibrant and prosperous partnership that will benefit both the nations.”
According to the Maldivian Minister, he passed forward President Muizzu’s suggestion to start talks on a free trade agreement between India and the Maldives.
“This agreement alongside other economic and trade-related agreements will facilitate trade liberalization and ease the risks of doing business in both our countries,” the minister emphasized.
Additionally, the two ministers jointly inaugurated six community development projects, including a speech therapy unit, a mental health unit, and a child development center at three different hospitals, that were implemented with Indian grants.
In response to the emerging challenges from global conflicts, Jaishankar stated, “In this turbulent environment, India has been—and will continue to be—a pillar of stability for its friends, partners, and neighbors.”
India’s actions have been and will continue to be guided by its firm commitment to the philosophy of ‘Sabka Saath, Sabka Vikas – which is- Together, we prosper’, he added.
