After the peaceful commencement of the Maldives' 60th Independence anniversary, India signed MoUs to enhance synergy between the two nations and take the partnership to new heights. Prime Minister Narendra Modi's trip began with the 60th Independence Day celebrations, where he received the Guest of Honour. The occasion also marks the 60th anniversary of diplomatic relations between the two countries.
The new trade arrangements between the two nations will be directed towards these major proponents.
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- Extension of Line of Credit (LoC) of Rs 4,850 crores to Maldives
- Reduction of annual debt repayment obligations of Maldives on Gol-funded LoCs
- Launch of India-Maldives Free Trade Agreement (IMFTA) negotiations
- Joint issuance of commemorative stamp on the 60th anniversary of the establishment of India-Maldives diplomatic relations
- Handing over of 3,300 social housing units in Hulhumale under India's Buyers' Credit facilities
- Inauguration of Roads and Drainage system project in Addu city
- Inauguration of 6 High Impact Community Development Projects in Maldives
- Handing-over of 72 vehicles and other equipment
Maldives holds an important place in India's 'Neighbourhood First' policy and 'MAHASAGAR' vision.
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PM Narendra Modi hands over the BHISHM (Bharat Health Initiative for Sahyog Hita & Maitri) Cubes to Maldives.
Upon the occasion, PM Modi Spoke about the new partnership between the two nations "India is Maldives' closest neighbour. Maldives holds an important place in India's 'Neighbourhood First' policy and 'MAHASAGAR' vision. India is proud of being the most trusted friend of the Maldives. Be it a crisis or pandemic, India has always stood with them as first responders. Be it making essential commodities available or handling the economy after COVID, India has always worked together."
Maldivian President Mohamed Muizzu spoke about the "Initiation of negotiations for a free trade agreement between India and the Maldives. This landmark initiative marks a significant step forward in strengthening our economic partnership."
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