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China is showing dreams of blue economy to Maldives, know what is this?

Image Source: Reuters
China is showing dreams of blue economy to Maldives

Maldives-China: Maldives President Mohammed Moizzu, who spewed venom against India, is on an official visit to China. Moijju, who is close to China, met Chinese President Xi Jinping there. During the meeting, 20 agreements were signed between the two countries. With these agreements between India’s enemy China and India’s adversary Moizzu, Jinping’s country is showing dreams of blue economy to move Maldives away from India and closer to itself. We will tell what is this blue economy, which China is luring to Maldives.

Chinese President Xi Jinping held bilateral talks with his Maldives counterpart Mohammed Moizzu on Wednesday. The two countries signed 20 major agreements, including cooperation in the field of tourism, and announced the elevation of bilateral relations to a comprehensive strategic partnership. Blue-economy and Belt and Road Initiative are also included in the 20 agreements signed between China and Maldives.

Trade imbalance between Maldives and China is very high

China-Maldives bilateral trade totaled US$451.29 million in 2022, of which China’s exports stood at US$451.29 million compared to exports from Maldives at US$60,000. China had organized the second China-Indian Ocean Region Forum meeting in the second week of December last, in which it had outlined its blue-economy strategy in the Indian Ocean. Maldives was also included in this meeting.

Know what is Blue Economy?

Its significance for India Blue-economy refers to ocean-based economy or proper utilization of marine resources. For example, the seas and oceans have potential for industries such as shipping (sea trade through ships), fishing (fish industry), oil, gas, minerals and mining, port activities and tourism. Any country and its coastal states have a huge opportunity to develop themselves through blue-economy. Blue-economy has been described as one of the 10 key dimensions in the ‘New India Vision’ released by the Government of India.

What is China’s blue-economy strategy in the Indian Ocean?

China does not have direct access to the Indian Ocean, which is a major part of the Indo-Pacific. This is an area of ​​strategic geopolitical importance. India, along with the US, Japan and Australia, is part of the Quad that is working for a free and open Indo-Pacific region in the face of China’s hegemony in the region. Maldives is strategically important for India due to its location in the Indian Ocean. China’s strategic penetration has increased in Maldives, located in the vicinity of India’s maritime border. Maldives has emerged as an important member of China’s ‘String of Pearls’ (a geopolitical concept) in South Asia. India will have to pay attention to China’s increasing proximity with Maldives. Because Beijing aims to establish its presence in the Indian Ocean region through Maldives and exploit the resources present here, which come under the Blue Economy.

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