India and the Maldives have finalized a framework to enhance local currency use in cross-border trade. External Affairs Minister S. Jaishankar reaffirmed India’s support for the Maldives amid rising tensions following a recent change in leadership. The meeting between Jaishankar and Maldivian counterpart Abdulla Khaleel is aimed at bolstering bilateral ties in maritime security, trade, and investment.

India and the Maldives have established a framework aimed at enhancing the utilization of local currencies for cross-border trade, as stated by External Affairs Minister Dr. S. Jaishankar during a meeting with his Maldivian counterpart, Abdulla Khaleel, in New Delhi. Dr. Jaishankar emphasized India’s steadfast commitment to supporting the Maldives, referring to the nation as a significant representation of India’s “neighbourhood first” policy. Mr. Khaleel’s visit is part of efforts to strengthen bilateral relations, particularly in maritime security, trade, and investment.

The Maldives, situated in the strategic Indian Ocean Region, holds a significant place in India’s foreign policy. Relations between India and the Maldives have historically been positive, especially in defense and security. However, tensions arose following the election of Mohamed Muizzu, who is perceived as pro-China, leading to a demand for the withdrawal of Indian military personnel from the Maldives. Recent dialogues indicate a desire to improve relations, with the new administration expressing intentions to enhance cooperation with India.

In summary, India remains committed to its partnership with the Maldives, as demonstrated by the newly finalized framework for local currency transactions. Despite recent political changes in the Maldives, including the pro-China stance of the current administration, both nations appear to be taking steps to restore and strengthen their bilateral ties through cooperation in key areas such as security and trade.

Original Source: www.thehindu.com

Related posts:

Maldives Foreign Minister Abdulla Khaleel Undertakes Official Visit to India India Expresses Concerns Over Minority Treatment in Bangladesh India and China Defence Ministers Commit to Rebuilding Mutual Trust in Laos India and China to Convene Special Representatives Meeting Amid Border Tensions