Dr. Mohamed Muizzu, President of the Republic of Maldives, visited India from 6th to 10th October 2024, marking a significant milestone in the relationship between India and Maldives. This marks his first official visit as President.
- The President was accompanied by First Lady Madam Sajidha Mohamed and a high-level delegation from the Maldivian government.
- Droupadi Murmu, President of India, welcomed Mohamed Muizzu and First Lady, Sajidha Mohamed with a reception at Rashtrapati Bhavan in New Delhi, Delhi.
Significance:
i.The visit highlighted the close ties between India and the Maldives, focusing on boosting economic cooperation, enhancing security, and strengthening cultural connections.
ii.It aimed to solidify India-Maldives relations, aligning with India’s ‘Neighbourhood First’ policy and the SAGAR (Security and Growth for All in the Region) vision.
iii.The state visit encompassed several high-profile meetings, the signing of key Memorandum of Understanding (MoUs), and a range of strategic and economic initiatives aimed at strengthening bilateral relations.
iv.President Dr. Muizzu also visited Mumbai, Maharashtra and Bengaluru, Karnataka, and attended business events.
Announcements:
i.Narendra Modi, Prime Minister (PM) of India, and Dr. Mohamed Muizzu met on 7th October 2024 and comprehensively reviewed the entire gamut of bilateral ties.
- They issued a vision document – India and Maldives: A Vision for Comprehensive Economic and Maritime Security Partnership – which outlines the shared interest and mutual aid in areas from defence infrastructure to surveillance capabilities.
- India and Maldives have decided to constitute a new High-Level Core Group to oversee the progress in the implementation of this vision document.
ii.The Indian government announced that India will undertake the repairs and refit of the Maldives Coast Guard ship (MCGS) Huravee, a patrol vessel which was gifted by India to Maldives in 2006.
iii.India agreed to provide financial support of more than Rs 6,300 crore to the Maldives to tide over a foreign exchange crisis.
Launch/Inauguration/Handing-over:
i.The Indian government has introduced the Rupay card to the Maldives as a part of the development of financial collaboration between India and the Maldives.
- This will facilitate digital payments and enhance financial inclusion.
ii.PM Modi and Mohamed Muizzu jointly virtually inaugurated the new runway at Hanimaadhoo International Airport (HIA) in Haa Dhaalu Atoll, Maldives to improve connectivity for the Maldives.
iii.700 social housing units were officially handed over to the Maldives. The units were constructed under the Export-Import Bank of India (EXIM Bank) Buyers’ Credit Facilities, contributing to housing development in the Maldives.
Agreements and MoUs:
During the state visit, delegates from both India and the Maldives exchanged several MoUs and agreements emphasising their commitment to strengthening bilateral relations.
Details of the agreements & MoUs.
i.The Reserve Bank of India (RBI) has entered into a Currency Swap Agreement with the Maldives Monetary Authority (MMA) under the South Asian Association for Regional Cooperation (SAARC) Currency Swap Framework for 2024-2027.
- This will provide financing support to the Maldives, enabling access to up to USD 400 million under the US Dollar/Euro Swap Window and Rs 30 billion under the Indian Rupee (INR) Swap Window.
- It allows the Maldives to access a specified amount of Indian currency when needed, which can strengthen economic resilience and promote financial stability.
- the agreement was signed between Ahmed Munawar, the Governor of the Maldives Monetary Authority and Ajay Seth, the Secretary of the Department of Economic Affairs (DEA) in the Ministry of Finance(MoF).
ii.Rashtriya Raksha University in Lavad, Gujarat signed a MoU with the National College of Policing and Law Enforcement in Addu City, Maldives, to enable the exchange of best practices and expertise to enhance security cooperation, particularly in combating regional threats such as terrorism and organized crime.
- The MoU was signed between Ibrahim Shaheeb, the High Commissioner of Maldives to India and Rajendra Kumar, the Secretary of Border Management in the Ministry of Home Affairs(MoAH)
iii.Central Bureau of Investigation (CBI) and the Anti-Corruption Commission (ACC) of the Maldives signed a MoU to strengthen institutional transparency and integrity, fostering collaboration between Indian and Maldivian anti-corruption agencies.
- The MoU was signed by Ibrahim Shaheeb and Rajendra Kumar.
iv.MoU between National Judicial Academy of India (NJAI) and the Judicial ServiceCommission (JSC) of the Maldives was renewed to focuses on training and capacity-building programs for Maldivian judicial officers, aiming to enhance the professionalism and effectiveness of the judiciary in the Maldives.
- This was signed between Ibrahim Shaheeb and Munu Mahawar, the High Commissioner of India to Maldives.
v.The MoU on Cooperation in Sports and Youth Affairs was also renewed to strengthen ties in sports development and youth engagement, promoting cultural and sporting exchanges between the two nations.
- It aims to provide opportunities for young athletes and foster collaboration in various sports programs, contributing to people-to-people ties.
- This was signed between Ibrahim Shaheeb and Munu Mahawar.
Other highlights:
i.With its expertise in solar power, India will partner with the Maldives on various renewable energy projects aimed at driving down energy costs and reducing reliance on traditional energy sources.
- This collaboration also includes exploring Maldives’ participation in India’s ambitious “One Sun, One World, One Grid” initiative, aimed at interconnecting global solar energy grids.
ii.India has committed to providing defense platforms and advanced surveillance systems to bolster the operational capabilities of the Maldives National Defence Force (MNDF).
- This includes the timely completion of the MNDF ‘Ekatha’ harbour project at Uthuru Thila Falhu (UTF), a vital initiative supported by India to enhance Maldives’ maritime security infrastructure.
About Maldives:
President– Mohamed Muizzu
Capital– Malé
Currency– Maldivian Rufiyaa
