The Maldives and India have completed the first round of negotiations for a proposed Free Trade Agreement (FTA), Minister of Economic Development, Transport and Trade Mohamed Saeed has announced.
Speaking at a press conference at the President's Office, Saeed said the government is working to bring the agreement into force before the end of the year. He said the first round of negotiations has already been concluded, covering 12 sectors.
"Within this framework, we have already consulted with 102 stakeholders across 12 sectors, including 65 private sector entities from the Maldives. We are currently working on services, goods, technical barriers to trade and economic cooperation," Saeed said.
The minister said the Free Trade Agreement forms part of the government's broader strategy to diversify the Maldivian economy beyond tourism. He said the Maldives must strengthen its integration with global markets, expand access to new export destinations and create more opportunities for Maldivian businesses.
The economic minister added that the government has a responsibility to create opportunities that enable the ideas and ambitions of young Maldivian entrepreneurs to reach their full potential, describing the proposed agreement with India as one of the key initiatives supporting that objective.
Negotiations on the Maldives-India Free Trade Agreement are continuing alongside the implementation of other trade agreements. The Maldives brought its Free Trade Agreement with China into force in January 2025.
The Maldives has also signed a Preferential Trade Agreement (PTA) with Türkiye. According to the Ministry of Economic Development, Transport and Trade, the two countries are completing the remaining procedural requirements before the agreement enters into force.