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India & Maldives to start regular cargo ferry service to boost trade & commerce

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In a meeting between External Affairs Minister Dr. S. Jaishankar and Maldives Foreign Minister Abdulla Shahid, both the countries agree to start of a regular cargo service between both the countries.

The cargo ferry service will run in between Cochin-Kulhudhuffushi-Male. This will help in development to the north of the Maldives.

India announces $400 million Line of Credit to fund the Maldives’ Great Male Connectivity Project.

Also Read:- India & UK affirmed their commitment to Free Trade Agreement in 14th JETCO meeting

After the meeting EAM S. Jaishankar said, “Warm and fruitful discussion with FM Abdulla Shahid of Maldives. Agreed that the COVID19 pandemic has brought the two nations even closer. We will be reliable partners in meeting both aspirations and challenges,”

“India will fund the implementation of Greater Male Connectivity Project through a $400 mn LOC & $100 mn grant. This 6.7 km bridge project connecting Male with Gulhifalhu Port & Thilafushi industrial zone will help revitalise and transform Maldivian economy.” He added.

Talking about the cargo service EAM said, “Happy to announce the start of regular cargo ferry service between India & Maldives to boost trade & commerce.”

Both the countries also starting an air travel bubble with Maldives to sustain & promote the dynamic people-to-people ties between the two countries.

India is the third biggest import partner of Maldives. Maldives export 15% of their total import from India. These projects in between both the countries will help to improve trade.

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