India and Maldives Pledge to Enhance Economic Cooperation

On 1st May, 2024, India reaffirmed commitment to strengthening economic ties with the Maldives as envoy engages in discussions with senior minister, following recent trade agreements and export allowances.

Key Points

Recent Trade Agreements: India allowed export of essential commodities for 2024-25, underscoring commitment to supporting the Maldives' development.
Deadline for Repatriation: Talks precede President Muizzu's May 10 deadline for repatriating Indian military personnel from the Maldives.
Positive Response: Both parties’ expressed optimism for continued engagement and cooperation in trade and economic spheres.
Trade Growth: Bilateral trade between India and Maldives surpassed $300 million in 2021, reaching over $500 million in 2022.
Trade Dynamics: India emerges as Maldives' primary trade partner, with exchanges spanning various sectors including pharmaceuticals, construction materials, and agricultural products.