Saeed says Maldives and India have begun Free Trade Agreement talks, aiming to conclude the deal soon

Maldives and India have begun discussions on a Free Trade Agreement (FTA), with both sides aiming to reach an agreement as soon as possible, Economic Minister Mohamed Saeed said on Tuesday.

Responding to a question at a press conference at the President’s Office, Saeed said FTA talks with India commenced on Monday.

He said both countries intend to conclude the agreement at the earliest opportunity.

The FTA will be developed with input from local experts, government institutions and private‑sector stakeholders.

According to the minister, the agreement offers several concessions. These include duty exemptions, expanded export opportunities to non‑FTA countries, and preferential access for FTA participants during global economic shocks.

While the government is working on an FTA with India, it has already signed an FTA with China. The agreement is expected to increase trade between Maldives and China to USD 1 billion. Current trade between the two countries stands at USD 700 million.