Minister of Economic Development, Transport and Trade Mohamed Saeed has said that the Free Trade Agreement (FTA) between the Maldives and India is expected to create significant opportunities for Maldivian businesses through tariff concessions and improved access to international markets.

Speaking at a press conference at the President’s Office, the minister said the ongoing FTA negotiations between the two countries are being pursued with the aim of timely completion.

He noted that Maldivian experts, Government officials and private sector representatives will be actively involved in the negotiation process to ensure national interests are safeguarded.

The Terms of Reference (TOR) for the agreement were signed in March this year, establishing the framework for the talks. The initial agreement to begin negotiations was reached during Indian Prime Minister Narendra Modi’s visit to the Maldives last year.

Minister Saeed said similar trade arrangements, including the Maldives’ existing agreement with China, have already helped local businesses access wider markets and international platforms. He added that the proposed agreement with India would provide access to one of the world’s largest consumer market.

The Maldives is currently implementing a Free Trade Agreement with China, which came into effect in January 2025, as well as a preferential trade agreement with Türkiye.