India and Maldives Strengthen Fisheries Collaboration with New MoU
Bilateral Fisheries Agreement Signed
New Delhi, July 26: The recent memorandum of understanding (MoU) between India and the Maldives aims to enhance cooperation in fisheries and aquaculture. This agreement focuses on promoting sustainable practices in tuna and deep-sea fisheries, improving aquaculture, and fostering eco-tourism linked to fisheries, as well as supporting scientific research and innovation in both nations, as stated by the government on Saturday.
The MoU was signed by the Department of Fisheries and the Ministry of Fisheries and Ocean Resources of the Maldives, marking a significant step in bilateral relations.
This agreement is part of a series of six MoUs exchanged during Prime Minister Narendra Modi’s visit to the Maldives, according to the Ministry of Fisheries, Animal Husbandry and Dairying.
The MoU outlines key collaborative areas such as developing value chains, advancing mariculture, facilitating trade, and enhancing capacity within the fisheries sector.
To support this initiative, the Maldives plans to improve its fish processing capabilities by investing in cold storage facilities and enhancing its aquaculture sector through hatchery development and increased production efficiency.
Additionally, the collaboration will include training and knowledge-sharing programs aimed at building capacity in areas like aquatic animal health, biosecurity, aquaculture management, and specialized technical fields such as refrigeration and marine engineering, which are essential for long-term skill development.
The ministry highlighted that this cooperation embodies the mutual vision of India and the Maldives to create a more resilient, innovative, and sustainable fisheries industry.
Several agreements were signed across various sectors, reinforcing the partnership between the two countries. These include a Line of Credit (LoC) agreement worth Rs 4,850 crore for the Maldives, an amendment to reduce the Maldives' annual debt repayment obligations on Indian government-funded LoCs, and the initiation of the India-Maldives Free Trade Agreement (FTA) Terms of Reference, among others.