The Maldives and India have reaffirmed their commitment to strengthening bilateral economic ties, with both countries officially commencing negotiations on a proposed Free Trade Agreement (FTA) aimed at expanding trade, investment, and long-term economic cooperation.
The announcement followed bilateral discussions between Maldives Minister of Economic Development, Transport and Trade Mohamed Saeed and India’s Minister of Commerce and Industry, Shri Piyush Goyal, during Minister Saeed’s official visit to India. The visit was undertaken at the invitation of the Indian Commerce Minister, according to a press statement issued by the Ministry of Economic Development, Transport and Trade on Tuesday.
The two ministers reviewed the progress of ongoing economic initiatives between the neighbouring countries, with particular emphasis on the India-Maldives Free Trade Agreement. Both sides welcomed the formal launch of negotiations on the proposed agreement and reaffirmed their commitment to advancing the talks in a constructive and mutually beneficial manner.
According to the ministry, the proposed FTA is expected to enhance market access for businesses in both countries, facilitate trade by reducing commercial barriers, and create new opportunities for investors. Officials believe the agreement could further strengthen economic integration and support sustainable growth across a range of sectors.
During the meeting, the ministers also discussed ways to expand cooperation beyond trade, focusing on investment promotion and sustainable economic development. They underscored the longstanding partnership between the Maldives and India, reaffirming their shared commitment to enhancing bilateral economic collaboration for the mutual benefit of both nations.
The discussions reflected the growing importance both governments place on deepening their strategic economic partnership at a time when regional trade and investment cooperation is receiving increased attention. The ministry noted that stronger commercial ties would contribute to broader economic development objectives while reinforcing the close relationship between the two countries.
India has long been one of the Maldives’ key development and trading partners, with cooperation spanning infrastructure, connectivity, healthcare, education, tourism, and capacity building. The commencement of FTA negotiations marks another significant step in expanding the scope of bilateral economic engagement.
The ministry said the proposed trade agreement is expected to improve the ease of doing business between the two countries by opening new markets and encouraging greater participation by the private sector. Businesses and investors are anticipated to benefit from improved access to each other’s markets as negotiations progress.
Minister Saeed was accompanied during the meeting by Maldives High Commissioner to India Aishath Azeema, along with senior officials from the Ministry of Economic Development, Transport and Trade and the High Commission of the Maldives in India.
The ministry reiterated that both governments remain committed to advancing the negotiations in a spirit of cooperation and partnership. While no timeline for concluding the agreement was announced, officials expressed confidence that continued dialogue would pave the way for a comprehensive trade pact capable of delivering long-term economic benefits to both countries.
