Sharma in Maldives to discuss trade
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2011-06-13

Sharma in Maldives to discuss trade

During the visit, the Indian Minister would be attending the Fifth Meeting of the SAFTA Ministerial Council in Male' on June 13.

The Government of India recently issued the quota for export of essential commodities for three years instead of one year to help improve the supply situation in Maldives. During the visit, the Indian Minister would be attending the Fifth Meeting of the SAFTA Ministerial Council in Male' on June 13. The Minister of Commerce & Industry, Anand Sharma has arrived in Male on Sunday on a two-day official visit to Maldives to improve the supply situation between the two nations.

Sharma outlined the new long-term concessional credit scheme for project exports launched by the Government of India and assured to encourage major Indian companies to participate in infrastructure building in Maldives when he called on the President of Maldives H.E. Mohamed Nasheed at Male on Sunday.

Both the leaders held wide ranging discussions on economic cooperation between India and Maldives.

During his meet with President of Maldives H.E.Mr. Mohamed Nasheed, Sharma said, "I am happy to note that bilateral trade increased from USD 83.38 mn in 2009-10 to USD 137.75 mn in 2010-11, i.e; by around 65 percent. Exports to India have also seen a surge from USD 3.6 mn in 2009-10 to USD 31.71 mn in 2010-11. In percentage terms, the growth of exports has been 781% in 2010-11 from a low of -9.32% in 2009-10."

"India and Maldives share ethnic, linguistic, cultural, religious and commercial links and enjoy close, cordial and multi-dimensional relations.  India was among the first to recognize Maldives after its independence in 1965 and to establish diplomatic relations with the country," he added.

The meeting was attended by Vice President H.E. Dr. Mohamed Waheed, Special Envoy of the President H.E. Ibrahim Hussain Zaki, Foreign Minister H.E Ahmed Naseem, Economic Development Minister Mahmood Razee and Foreign Policy Advisor to President H.E Dr. Ahmed Shaheed from the Maldivian side and the High Commissioner of India Dnyaneshwar M.Mulay and the Joint Secretary, Ministry of Commerce, Government of India Arvind Mehta from the Indian side.  


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