Maldives backs new Chinese investment bank, pursues free trade deal
22 Dec 2014, 7:52 PM
Ismail Humaam Hamid
The Maldives is to back a Chinese-initiated international finance institution to be called the Asian Infrastructure Investment Bank (AIIB) while ministers have confirmed a free trade agreement is being pursued.
At a press conference today, the economic council revealed that the Maldives had asked to be included as a founding member of the proposed bank alongside the existing 21 countries, which includes both China and India.
Minister of Fisheries and Agriculture Dr Mohamed Shainee also revealed that China was to become the Maldives first free trade partner, demonstrating the pair’s excellent bilateral relations.
The requests were put forward during a recent visit to China by the Economic Council where discussions were held on proceeding with Chinese-assisted projects, while the Maldives officially signed up to the Maritime Silk Road project.
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