ENA Global 2024-07-29 17:41:19 <p><span style="font-size:14px"><strong>New Delhi, Jul 29 (KNN)</strong> In a significant development for India-Maldives relations, President Mohamed Muizzu of the Maldives has expressed gratitude towards India for its financial support in easing the island nation's debt repayment.</span></p> <p><span style="font-size:14px">The statement came during his address at the official Independence Day celebrations on Friday.</span></p> <p><span style="font-size:14px">President Muizzu emphasised the potential for strengthening bilateral ties, suggesting the possibility of a free trade agreement between the two nations.</span></p> <p><span style="font-size:14px"> India will continue to remain the Maldives' closest ally, he asserted, dispelling any doubts about the relationship.</span></p> <p><span style="font-size:14px">The Maldivian leader also revealed ongoing negotiations for a Free Trade Agreement with the United Kingdom, expressing hope for similar terms with India.</span></p> <p><span style="font-size:14px">Additionally, he disclosed that discussions are underway for currency swap agreements with both New Delhi and Beijing to address local shortages of US dollars.</span></p> <p><span style="font-size:14px">Acknowledging support from both India and China in easing the Maldives' debt burden, President Muizzu stated that such assistance contributes to the country's economic sovereignty.</span></p> <p><span style="font-size:14px">According to recent data from The Edition, a Maldivian publication, the island nation's debt to India stands at approximately 6.2 billion Maldivian Rufiyaa.</span></p> <p><span style="font-size:14px">The President's remarks come in the context of what he termed eight months of 'diplomatic success' in the Maldives' foreign policy administration.</span></p> <p><span style="font-size:14px">This statement suggests a shift towards reconciliation in India-Maldives relations, which had previously experienced some tension.</span></p> <p><span style="font-size:14px">In a notable gesture last month, President Muizzu attended the oath-taking ceremony of Indian Prime Minister Narendra Modi, who assumed office for a third consecutive term following victory in the recent Lok Sabha elections.</span></p> <p><span style="font-size:14px">As both nations navigate their diplomatic and economic ties, President Muizzu's recent statements indicate a potential for enhanced cooperation and strengthened relations between the Maldives and India in the coming years.</span></p> <p><span style="font-size:14px"><em><strong>(KNN Bureau)</strong></em></span></p> 38788 https://knnindia.co.in/news/newsdetails/global/maldives-seeks-stronger-ties-with-india-president-muizzu-proposes-free-trade-agreement 2024-07-29 17:41:19 knnindia.co.in