Business Daily from THE HINDU group of publications
Tuesday, Jan 29, 2008
ePaper | Mobile/PDA Version
Business Daily from THE HINDU group of publications Tuesday, Jan 29, 2008 ePaper | Mobile/PDA Version |
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Industry & Economy
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Foreign Trade Government - Foreign Relations Jairam Ramesh visiting Maldives Our Bureau New Delhi, Jan 28 The Minister of State for Commerce, Mr Jairam Ramesh, is undertaking a three-day visit to the Maldives from January 29 as part of India’s ongoing drive to expand trade and investment ties within the SAARC countries. Mr Ramesh earlier visited Bangladesh and is scheduled to be in Sri Lanka by the middle of next month, an official release said here. Interactions with Pakistani and Bhutanese delegations have also taken place. Besides, Mr Ramesh has visited all the important border trade centres in the region including Petrapole, Moreh and Attari/Wagah. The visit assumes significance in the light of the forthcoming SAFTA Ministerial meeting in New Delhi on March 1-2, 2008. Middle income counrtryThe Maldives is one of the outstanding economic success stories of the past three decades (7 per cent GDP growth per year during 1975-2005) and has now a per capita income of around $2,800—the highest in South Asia. In 2011, it will graduate from being in the “least developed country” category according to UN criteria to the status of a “middle income country”. India accounts for around 10-11 per cent of Maldives imports, next to Singapore and Sri Lanka and on par with the UAE. Exports from India to the Maldives are currently in the region of about $100 million, while imports are insignificant. Singapore accounts for almost 90 per cent of the FDI into the Maldives, followed by Malaysia. More Stories on : Foreign Trade | Foreign Relations
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