Prime Minister of India Shri Narendra Modi and President of Maldives H. E. Dr. Mohamed Muizzu met on 7 October 2024 and comprehensively reviewed the entire gamut of bilateral ties while noting the progress made by both countries in deepening their historically close and special relationship that has immensely contributed to the betterment of the peoples of the two countries.

2. Prime Minister of India underscored the importance attached by India to its relationship with Maldives under its ‘Neighbourhood First’ Policy and Vision SAGAR, and reaffirmed India’s unwavering commitment to assist Maldives on its developmental journey and priorities. President of Maldives thanked India for its timely emergency financial assistance, including by way of rolling over T-bills subscribed by SBI amounting to USD 100 million in May and September 2024 for a further period of one year that provided the much needed financial cushion for Maldives in addressing its urgent financing needs. He acknowledged India’s continued role as the ‘First Responder’ of Maldives in times of need, following India’s earlier assistance in the last decade during the 2014 water crisis in Malé and the Covid-19 pandemic.

3. President of Maldives Dr. Mohamed Muizzu expressed his appreciation for the decision of the Government of India to extend support in the form of USD 400 million and INR 30 billion as a bilateral currency swap agreement, instrumental in tackling the ongoing financial challenges faced by the Maldives. The leaders also agreed to implement further measures to support Maldives in addressing its financial challenges.

4. The leaders acknowledged that it was an opportune time for both sides to chart a new framework for cooperation with an aim to comprehensively transform the bilateral relationship to a Comprehensive Economic and Maritime Security Partnership, which is people-centric, future-oriented and will act as an anchor of stability in the Indian Ocean Region. In this context, both the leaders have decided as follows:

I. Political exchanges

In order to intensify exchanges at leadership and ministerial levels, the two sides will expand them to include exchanges of Parliamentarians and local government representatives. In addition, recognizing the contribution of shared democratic values in the growth of bilateral ties, they decided to conclude a Memorandum of Understanding to enable institutionalized cooperation between the two Parliaments.

II. Development Cooperation

Taking into account the progress of ongoing developmental partnership projects, which have already brought tangible benefits to the people of Maldives, the two sides decided:

i. To work together in advancing the developmental partnership, as per needs and requirements of Maldives, across areas, including ports, airports, housing, hospitals, roads networks, sports facilities, schools and water and sewerage;

ii. To provide assistance to the Maldives in addressing the housing challenges and to accelerate the ongoing social housing projects supported by India’s assistance;

iii. To extend full support for the timely completion of the flagship Greater Malé Connectivity Project (GMCP), and to undertake a feasibility study to connect the islands of Thilafushi and Giraavaru as an extension;

iv. To collaborate in the development of a state-of-the-art commercial port at Thilafushi island in order to de-congest the Malé port and provide enhanced cargo handling capacity at Thilafushi;

v. To also explore collaboration for development of transshipment facilities and bunkering services contributing towards Maldives Economic Gateway project at Ihavandhippolhu and Gaadhoo islands of Maldives;

vi. To jointly work in harnessing the full potential of Hanimaadhoo and Gan airports that are being developed with Indian assistance as well as other airports of Maldives. Towards this end, both sides will also consider measures to strengthen air connectivity, attract investments and collaborate for efficient management of these airports;

vii. To jointly work in establishing "Agriculture Economic Zone” and tourism investments in Haa Dhaalu atoll and fish processing and canning facility at Haa Alifu atoll with Indian assistance;

viii. To further expand through additional financing the successful High Impact Community Development Projects to take the India-Maldives people-centric development partnership to every part of Maldives.

III. Trade and economic cooperation

In view of significant untapped potential for bilateral trade & investment, the two sides agreed:

i. To initiate discussions on a Bilateral Free Trade Agreement focusing on trade in goods and services between the two countries;

ii. To operationalize the settlement of trade transactions between India and Maldives in local currencies with an aim to deepen trade linkages and to reduce dependency on foreign currencies;

iii. To promote bilateral investments and closer engagements between the two business chambers and entities; steps shall be taken for disseminating information relating to investment opportunities and to improve ease of doing business;

iv. To support the efforts of Maldives towards diversification of its economy by strengthening cooperation in the areas of agriculture, fisheries, oceanography and blue economy, including through establishment of academic linkages and expanding research & development cooperation;

v. To enhance efforts to boost tourism between the two countries through marketing campaigns and collaborative efforts.

IV. Digital and financial cooperation

Given that developments in digital and financial domains have transformational impact on governance and delivery of services the two sides agreed:

i. to share expertise on implementation of digital and financial services;

ii. To cooperate in the domain of Digital Public Infrastructure (DPI) by launch of India's Unified Payments Interface (UPI), Unique Digital Identity, Gati Shakti Scheme and other digital services that will enhance e-governance and delivery of services through digital domain for the benefit of people of Maldives;

iii. While welcoming the launch of RuPay card in Maldives, which will enhance ease of payments for Indian tourists visiting Maldives, to work closely to extend similar services for Maldivian nationals visiting India.

V. Energy cooperation

Given the role of energy security in ensuring sustainable development, the two sides agreed to explore cooperation through implementation of solar power and other renewable energy and energy efficiency projects to bring down energy costs and enable Maldives to achieve its NDC Goals, both sides will establish a framework for an institutional partnership which will include training, exchange of visits, joint research, technical projects and promotion of investments.

Towards this end, both sides will also undertake a feasibility study to identify measures that would enable Maldives to participate in the One Sun One World One Grid initiative.

VI. Health cooperation

The two sides agreed:

i. To further deepen ongoing health cooperation through provisioning of safe, quality and affordable healthcare to the people of Maldives in India and promoting linkages between hospitals in India and facilities and improving access to essential health services in Maldives for strengthening health-care infrastructure in Maldives;

ii. To work towards recognition of Indian pharmacopoeia by the Government of Maldives, followed by establishment of India-Maldives Jan Aushadhi Kendras across Maldives to contribute to health security efforts of Maldives through provisioning of affordable and quality generic medicines from India;

iii. To work together to improve mental health services and support systems to central and regional mental health services of Maldives;

iv. To collaborate through training programs for healthcare professionals to enhance skills and knowledge;

v. To work together on health research initiatives to address common health challenges including cancer, infertility, etc;

vi. To work together in sharing of expertise on drug de-addiction and rehabilitation measures as well as assist in setting-up of rehabilitation centres in Maldives;

vii. To work together in enhancing capacity of the Maldives to undertake emergency medical evacuations.

VII. Defence & Security Cooperation

India and Maldives share common challenges in the Indian Ocean Region which have multi-dimensional implications for the security and development of both the countries. As natural partners, they resolve to work together in advancing the maritime and security cooperation for the benefit of peoples of both India and Maldives as well as for the larger Indian Ocean Region.

Maldives, with its vast Exclusive Economic Zone, is exposed to traditional and non-traditional maritime challenges including piracy, IUU fishing, drug smuggling, and terrorism. The two countries agreed that India, as a trusted and dependable partner, will work closely with Maldives in sharing of expertise, augmenting capabilities and undertake joint cooperative measures, as per needs and requirements of Maldives; they also agreed that the ongoing Maldives National Defence Force (MNDF) 'Ekatha' harbour project at Uthuru Thila Falhu (UTF) with India's assistance will significantly contribute towards enhancing MNDF's operational capabilities, and agreed to extend full support for its timely completion.

The two sides also agreed:

i. To support Maldives with provisioning of defence platforms and assets to augment capabilities of MNDF as well as that of the Government of Maldives in advancing its maritime and security requirements in line with its national priorities;

ii. To support Maldives in enhancing surveillance and monitoring capability of MNDF with the provisioning of radar systems and other equipment

iii. To support Maldives on Hydrographic matters, including, through capacity building and training, as per the requirements of the Government of Maldives;

iv. To strengthen cooperation in the area of disaster response and risk mitigation, including through development of SOPs and exercises to achieve enhanced interoperability;

v. To assist Maldives in the domain of Information Sharing by supporting the development of capabilities through infrastructure, training and sharing of best practices.

vi. To inaugurate at an early date the state-of-the-art Maldivian Ministry of Defence (MoD) building in Malé, constructed with India's assistance, that will augment modern infrastructural capacity of the MoD;

vii. To increase capacity building & training slots for MNDF, Maldives Police Services (MPS), and other security organizations of Maldives under the ITEC programmes and other customized training programmes in India;

viii. To extend financial assistance to develop and upgrade MNDF infrastructure.

VIII. Capacity Building and training

Reviewing the various ongoing capacity building initiatives that have positively contributed towards human resource developmental needs of Maldives, the two sides agreed to further expand support towards training and capacity building as per requirements and priorities of Maldives; They also agreed:

i. To continue with customized training programmes for civil servants and local government representatives of Maldives.

ii. To launch a new programme to promote women-led development by imparting skills training and extending support to Maldivian women entrepreneurs for their enhanced participation in Maldivian economy;

iii. To collaborate in establishment of a Start-up Incubator-Accelerator in Maldives to harness the innovation potential of the youth.

IX. People-to-people linkages

People-to-people linkages between India and Maldives have remained the bedrock of the special and unique ties between the two countries. The two sides agreed to take measures to deepen these linkages and decided:

i. To work positively towards establishing a consulate of Maldives in Bengaluru and a consulate of India in Addu city recognizing that these would contribute to expansion of trade and economic cooperation and greater people-to-people contacts;

ii. To enhance air and maritime connectivity to facilitate ease of travel, support economic engagement and promote tourism;

iii. To establish higher education institutions, skilling centres and centres of excellence in Maldives, as per its needs and requirements;

iv. To work towards establishing an ICCR Chair in the Maldives National University.

X. Cooperation at Regional and Multilateral Fora

Close cooperation between India and Maldives has benefited both countries in regional and international fora and amplified each other’s voice on issues of common interest. With the recent signing of the Charter of the Colombo Security Conclave (CSC), India and Maldives, as founding members of the CSC, further reaffirmed to work closely in advancing their common maritime and security interests with an aim to achieve a safe, secure and peaceful Indian Ocean Region. The two sides also agreed to continue working closely in multilateral fora.

4. The leaders directed officials from both India and Maldives to implement the outlined areas of cooperation in a timely and efficient manner with an aim to steer the Comprehensive Economic and Maritime Security Partnership between the two countries for the common benefit of the peoples of both India and Maldives as well as for the Indian Ocean Region. They decided to constitute a new High-Level Core Group to oversee the progress in the implementation of this vision document. The leadership of this group will be decided mutually between the two sides.

***

MJPS/SR/SKS