NEW DELHI: India on Wednesday expressed its intent to enhance
bilateral economic collaboration
with the Maldives, as its envoy engaged in discussions with a senior minister from the archipelagic nation. Mohamed Saeed, Maldives’ minister of economic development and trade, held talks with Munu Mahawar,
Indian high commissioner
to the Maldives, on Tuesday.
The meeting follows India’s recent decision to permit the export of specific quantities of essential commodities for the 2024-25 period, as requested by the Maldivian government. It also precedes the May 10 deadline set by President
Mohamed Muizzu
for the complete repatriation of 88 Indian military personnel from his country.
“Minister Mohamed Saeed held discussions with Indian high commissioner to Maldives, H E Munu Mahawar, exploring trade & economic cooperation opportunities. @HCIMaldives,” tweeted Maldives’ ministry of economic development and trade from its official X handle, along with photos of the meeting.
“We look forward to continued engagements with @MoEDmv for further enhancing India-Maldives economic cooperation,” responded the Indian high commission.
Earlier on April 5, India reiterated its strong commitment to advancing human-centric development in the archipelagic nation by approving the request to export specific quantities of essential commodities for the year 2024-25. This decision was made “under a unique bilateral mechanism,” resulting in an upward revision of quotas for each item.
There was also a notable 5% increase in quotas for eggs, potatoes, onions, sugar, rice, wheat flour, and dal (pulses). These approved quantities mark the highest since the inception of the arrangement in 1981.
Under the 1981 India and Maldives trade agreement, provisions are made for the export of essential commodities. Records from the Indian High Commission indicate significant growth in India-Maldives bilateral trade. In 2021, bilateral trade surpassed the $ 300 million mark for the first time and further exceeded $500 million in 2022, marking substantial progress from its modest beginnings.
“India emerged as Maldives’ 2nd largest trade partner in 2022 and the largest in 2023. Indian imports from the Maldives primarily comprise scrap metals while Indian exports to the Maldives include a variety of engineering and industrial products like drugs and pharmaceuticals, radar apparatus, rock boulders, aggregates, cement and agricultural produce such as rice, spices, fruits, vegetables and poultry produce etc,” it said.
The April 5 announcement also highlighted that the quota for river sand and stone aggregates, essential items for the thriving construction industry in the Maldives, has been augmented by 25% to 10,00,000 metric tons each.
(With inputs from agencies)
