Chinese President Xi Jinping has assured the Maldives of China’s full cooperation in addressing the country’s current economic challenges, Minister of Foreign Affairs Moosa Zameer has said.
Zameer along with other key ministers and administration officials visited China last week at the invitation of China’s Foreign Minister Wang Yi, holding extensive talks with Chinese officials — Zameer also share a letter sent by President Mohamed Muizzu with President Xi.
According to the Minister, President Xi’s reply to President Muizzu sought to assure him of extensive cooperation by the Chinese government with the Maldives.
“[President Xi] has informed the President [Muizzu] that China will do everything it can to help overcome these [economic difficulties] and that the technical aspects will move forward beginning now,” Zameer said on Saturday night.
President Muizzu said on Friday night that the government of China has given the green signal to defer the repayment of loans, taken via the Export–Import Bank of China for various development projects, over the next five years.
“China’s Exim Bank has given the green signal to repay the loans taken for various development projects without paying interest for the next five years,” Muizzu said.
Minister Zameer told local media that nations welcomed the steps being taken by President Muizzu to solve the Maldives’ economic challenges, highlighting that the nation was now receiving cooperation from India as well — India had recently deferred a US$50 million payment.
“India is very sensitive to our difficulties. India has a neighbourhood first policy. India is very helpful in our difficulties and we get the advice and guidance we need,” Zameer said.
The minister said the purpose of deferring debt was to diversify the economy and open up new sectors; pointing to Muizzu’s speech on the occasion of the Maldives’ Independence Day.
Zameer, during his visit to China last week, also met with the heads of other banks and preparations are now underway to open a branch of a Chinese bank in the Maldives, the Minister also confirmed, in what would be a first for the nation.
“With the President’s last visit to China, there are talks of flights coming to the Maldives from many Chinese cities. There are already 17 flights a week,” Zameer added.