Maldives and India Sign Agreement to Cooperate in Fisheries and Aquaculture

The Ministry of Fisheries and Ocean Resources of the Maldives and the Ministry of Fisheries, Animal Husbandry and Dairying of India have signed a Memorandum of Understanding (MoU) to cooperate in the fisheries and aquaculture sectors.

At a ceremony held today at the President's Office, the MoU was signed on behalf of the Maldives by Fisheries Minister Ahmed Shiyam. On behalf of India, it was signed by the Minister of External Affairs, Dr. S. Jaishankar.

The MoU is an agreement reached with the aim of working together to sustainably manage fisheries and further develop and strengthen relations in the aquaculture sector between the two countries.

The main components of the MoU include promoting sustainable tuna fisheries, strengthening the management of sustainable resources, developing aquaculture, promoting eco-friendly fishing tourism, and assisting in innovative and scientific research in both countries. In addition, the Fisheries Ministry stated that it includes developing the value chain, cooperating in training and research to increase capacity in the fisheries sector, increasing private sector participation in the mariculture sector of the Maldives, and facilitating investment opportunities.

The Fisheries Ministry described this MoU as a step that will also assist the efforts of both countries to sustainably utilize fisheries resources and protect the environment. In this regard, the Ministry stated that the information and experience shared between the two countries will make it easier to find solutions to the challenges faced in the fisheries sector.

The Fisheries Ministry stated that this MoU is an important step taken to further strengthen the relationship between the Maldives and India in the fisheries sector and to advance the fisheries industries of both countries. The Ministry hopes that this will achieve beneficial results for the fisheries sectors of both countries and that the sector will develop sustainably.

In addition to this MoU, seven other agreements between India and the Maldives were signed at this ceremony. These include an agreement to begin discussions on establishing a free trade agreement between the Maldives and India, a $565 million Line of Credit Framework Agreement, a Dollar Credit Line Agreement, an agreement on the provision of quality medicine, an agreement on establishing a framework in the fields of meteorology, atmospheric science, and environmental monitoring, an agreement on strengthening relations in the digital sector, and a cross-border remittance agreement.

President Dr. Mohamed Muizzu and Indian Prime Minister Narendra Modi participated in this MoU signing ceremony. Ministers of State and senior officials from India and the Maldives also participated.