China and Maldives sign currency transaction agreement, boosting trade and direct investments.

China and the Maldives have signed a memorandum of understanding to facilitate local currency transactions and direct investments, enhancing trade relations. With bilateral trade over $700 million, this agreement underscores the Maldives' goal to improve economic openness. The Maldives owes China $1.37 billion, comprising 20% of its external debt, highlighting the financial ties between the two nations.

September 13, 2024
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