Indian, Maldivian govts sign MoUs, agreement including launch of RuPay card in Maldives

The governments of India and Maldives, on Monday (Oct 7), signed key agreements, including the launch of the RuPay service in the latter country. Maldives President Mohamed Muizzu began a four-day visit to India on Sunday. On Monday, he held delegation-level talks with Indian Prime Minister Narendra Modi at the Hyderabad House in New Delhi.

Following the meeting, Modi and Muizzu addressed a joint press conference where they virtually inaugurated the runway of Hanimaadhoo International Airport in Maldives. The governments of both countries signed key agreements in different areas.

> A few days back, India’s RuPay card payments were introduced in the Maldives. On Monday, Modi and Muizzu witnessed the first such transaction.

> During the press conference Modi said, “A few days back, the RuPay card was launched in Maldives. In the time to come, India and Maldives will be connected through UPI.”

> India and Maldives have agreed to start talks on a Free Trade Agreement (FTA).

> A Memorandum of Understanding (MoU) was signed between India’s Central Bureau of Investigation (CBI) and the Anti-Corruption Commission of Maldives for bilateral cooperation on preventing and combating corruption.

> An MoU was renewed between both countries on cooperation in sports and youth affairs.

> India and the Maldives also signed a currency swap agreement.

> “…Today, more than 700 social housing units built with India’s cooperation have been handed over (to Maldives)…To strengthen economic relations, we have decided to initiate discussion on Free Trade Agreement,” Modi said.

Modi said that the relationship between India and the Maldives has been centuries old. 

“Maldives holds an important position in our neighbourhood policy and SAGAR vision. India has always played the role of first responder for Maldives…India has always fulfilled the responsibilities of a neighbour. Today, we have taken up the vision of a comprehensive economic and maritime security partnership to give our mutual cooperation a strategic direction,” he said.

Meanwhile, Muizzu said, “India is a key partner in the socio-economic and infrastructure development of Maldives and has stood by Maldives during our times of need. I would like to thank PM Modi, the government and people of India for the generous assistance and cooperation extended to Maldives over the years…”