January 3rd 2025.
New Delhi: India's External Affairs Minister S Jaishankar emphasized the importance of the Maldives in India's neighborhood first policy during a meeting with Maldivian Foreign Minister Abdulla Khaleel. He also pledged India's support to the Indian Ocean archipelago as it faces economic challenges.
In his opening remarks, Jaishankar highlighted the recent finalization of a framework to promote the use of local currencies for cross border trade between India and the Maldives. He also mentioned India's financial assistance to the Maldives to help with economic issues. Both sides signed a Memorandum of Understanding to implement high impact community development projects in the Maldives through grant assistance from India.
Khaleel reaffirmed President Mohamed Muizzu's commitment to working closely with India to achieve their joint vision for a comprehensive economic and maritime security partnership. Khaleel's visit, which lasted three days, aimed to strengthen bilateral ties in various areas such as trade and investment.
The Maldives has been facing financial stress, and Jaishankar acknowledged this by saying, "For us, you are a very concrete expression of our neighborhood first policy." He also mentioned India's previous assistance to the Maldives during a debt crisis, including resubscribing to treasury bills and providing currency swap lines of USD 400 million and 3,000 crore rupees.
Jaishankar also highlighted the tradition of India providing essential commodities to the Maldives and expressed hope that their relationship has helped the Maldives navigate through difficult times.
The Maldives is a significant maritime neighbor of India in the Indian Ocean Region, and the bilateral ties have seen positive progress, especially in areas of defense and security, under the previous government in Male.
During the meeting, Jaishankar and Khaleel reviewed the progress made on understandings reached during President Muizzu's visit to India in October. The Ministry of External Affairs stated that Jaishankar reaffirmed India's commitment to its bilateral ties with the Maldives and assured continued support under India's Neighborhood First policy and Vision SAGAR (Security and Growth for All in the Region).
Khaleel expressed appreciation for India's timely emergency financial assistance to the Maldives in times of need, acknowledging India's role as the "First Responder" to the Maldives. He also reaffirmed the Maldives' commitment to working closely with India to achieve their joint vision for a comprehensive economic and maritime security partnership.
The visit of Khaleel provided an opportunity to deepen the bilateral ties for the mutual benefit of both countries and the Indian Ocean Region. The strained ties between India and the Maldives, caused by President Muizzu's pro-China leanings, have seen positive progress under the previous government.
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