The Maldives and India have exchanged a Memorandum of Understanding (MoU) to begin formal negotiations on a Free Trade Agreement (FTA) between the two countries.

The ceremony was held today at the President’s Office in Malé, as part of the state visit of Indian Prime Minister Narendra Modi. President Dr Mohamed Muizzu and Prime Minister Modi were present to witness the exchange.

Minister of Economic Development and Trade Mohamed Saeed represented the Maldives, while India’s External Affairs Minister Dr S. Jaishankar represented India.

If concluded, the FTA would be the Maldives’ second, following its first with China.

The proposed agreement is expected to boost trade and investment flows, strengthening broader economic cooperation between the Maldives and India.