In order to strengthen aquaculture and sustainable resource management, encourage fisheries-based ecotourism, support innovation and scientific research in both countries, and promote sustainable tuna and deep-sea fisheries, the Maldives and India signed a memorandum of understanding (MoU) on Saturday to increase bilateral cooperation in the fields of fisheries and aquaculture.
To strengthen bilateral cooperation in the areas of fisheries and aquaculture, the Maldives’ Department of Fisheries and Ministry of Fisheries and Ocean Resources have inked a Memorandum of Understanding.
According to the Ministry of Fisheries, Animal Husbandry, and Dairying, the MOU is one of six MOUs that India and the Maldives exchanged during Prime Minister Narendra Modi’s state visit to the island nation.
The MoU lists value chain growth, mariculture advancement, trade facilitation, and fisheries sector capacity building as important areas of cooperation.
By investing in cold storage facilities and bolstering the aquaculture industry through hatchery development, increased production efficiency, and the variety of cultured species, the Maldives will expand its capacity to process fish as part of this effort.
In order to promote long-term skills development within the industry, the partnership will also support training and knowledge exchange programs, with an emphasis on capacity building in aquatic animal health, biosecurity screening, aquaculture farm management, and specialized technical fields like refrigeration, mechanical engineering, and marine engineering.
The ministry claims that the collaboration embodies India and the Maldives’ common goal of creating a more resilient, inventive, and sustainable fishing sector in the future.
The bilateral connection between India and the Maldives was renewed with the signing of several agreements in various industries.
Among these are the following: an agreement to grant the Maldives a Rs 4,850 crore Line of Credit (LoC); an amendatory agreement to lower the Maldives’ annual debt repayment obligations on Indian government-funded LoCs; the launch of the India-Maldives Free Trade Agreement (FTA)-Terms of Reference; a Memorandum of Understanding (MoU) on cooperation in the field of fisheries and aquaculture; an MoU between the Maldives Meteorological Services (MMS), Ministry of Tourism and Environment; and an agreement to share successful digital solutions implemented at the population scale for digital transformation.
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