January 3rd 2025.
In a recent meeting between the External Affairs Ministers of India and the Maldives, a significant step was taken to strengthen the trade relations between the two nations. The framework for promoting the use of local currencies in cross-border transactions was finalized, with India's S Jaishankar expressing his satisfaction with this development. He also reaffirmed India's commitment to supporting the Maldives, stating that the two countries have always been close allies.
The meeting between Jaishankar and his Maldivian counterpart Abdulla Khaleel took place in Delhi, where Khaleel was on a three-day visit to discuss ways to enhance bilateral ties. The agenda included key areas such as maritime security, trade, and investment. Jaishankar acknowledged the signing of the framework for promoting the use of local currencies and commended the efforts to increase engagement between the two nations.
India's support for the Maldives has been ongoing, with the country being one of India's important maritime neighbors in the Indian Ocean Region. Under the previous government in Male, the bilateral ties between the two countries, especially in defense and security, saw significant progress. However, with the new government in power, led by Muizzu, who is known for his pro-China stance, the relations between India and the Maldives faced challenges.
In November 2023, Muizzu, who had been elected as the new President, demanded the withdrawal of Indian military personnel from the Maldives. This led to a strain in the relations between the two countries, and Indian military personnel were replaced by civilians. However, during Muizzu's visit to Delhi in October, he expressed his willingness to strengthen ties with India, and there was a thaw in the relations.
The recent meeting between Jaishankar and Khaleel is a positive step towards improving the relations between India and the Maldives. With the finalized framework for using local currencies in cross-border trade, both countries can look forward to further enhancing their economic ties. India's commitment to supporting the Maldives remains strong, and this meeting is a testament to the "neighborhood first" policy of the Indian government.
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