NEW DELHI: India and the Maldives have finalised a framework to promote the use of local currencies for cross border trade as External Affairs Minister S Jaishankar held discussions with his counterpart from the island nation Abdulla Khaleel to improve the relationship.
“I see that the framework to promote the use of local currencies for cross border transaction has been signed. We have increased our engagement in various sectors and I do want to say that India has always stood by the Maldives. You are a very concrete expression of our neighbourhood first policy,” Jaishankar said after the meeting.
Khaleel’s visit follows the recent state visit of the Maldives President Mohamed Muizzu to India in October 2024.
Jaishankar and Foreign Minister Khaleel took stock of progress made on the understandings reached during the visit Muizzu to India. External Affairs Minister Jaishankar “reaffirmed the importance India attaches to its bilateral ties with Maldives and assured continued support to Maldives, under India's 'Neighbourhood First' policy and Vision SAGAR -- Security and Growth for All in the Region.
Khaleel, on his part, appreciated “the timely emergency financial assistance extended by India to Maldives in times of need,” reflecting India's role as the “First Responder” of the Maldives.
“Foreign Minister Dr. Khaleel reaffirmed President Dr. Muizzu’s and the Government of Maldives’ firm commitment to work closely with the Government of India in realizing the Joint Vision for India-Maldives Comprehensive Economic and Maritime Security Partnership,” a statement from the external affairs ministry said.
Both sides signed a pact for the implementation of high impact community development projects through grant assistance by the government of India.