Union Cabinet approved the MoU between India and Maldives for the establishment of passenger and cargo services by sea

The Union Cabinet approved the MoU between India and Maldives for the establishment of passenger and cargo services by sea. It was signed during the visit of PM Narendra Modi to Maldives on 8 June 2019.
Vamsi Athreya

Updated: Jul 06,2019 03:29:46 pm

Union Cabinet approved the MoU between India and Maldives for the establishment of passenger and cargo services by sea

06 July 2019 Current Affairs:The Union Cabinet approved the MoU between India and Maldives for the establishment of passenger and cargo services by sea. It was signed during the visit of Prime Minister Narendra Modi to Maldives on 8 June 2019.

Aim:
The Ferry service would help to harness the potential opportunity in both passenger and cargo transportation by sea between the two countries. Ferry services between Maldives and Kerala is connected by Kochi with Male  and Kulhudhuffushi in Maldives by Sea route. Ferry service would contribute in a big way in promoting people to people contact and to boost bilateral trade between two nations.

India and Maldives relation:
India is a leading development partner of Maldives and has established many of the leading institutions of Maldives.
Currently, India has provided $100 million Stand-by Credit Facility (SCF) to Maldives, including long-term loans and revolving credit for trade.

Maldives:
President: Ibrahim Mohamed Solih           
Capital: Male
Currency: Maldivian Rufiyaa
The Maldives is a tropical nation in the Indian Ocean
It is composed of 26 ring-shaped atolls, which are made up of more than 1,000 coral islands
It’s known for its extensive reefs, beaches and blue lagoons
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