Economic Minister Mohamed Saeed says the Maldives plans to sign a Free Trade Agreement with India before the end of the year, with implementation expected to begin by year-end after negotiations covering 12 key sectors.
The Maldives is set to sign a Free Trade Agreement (FTA) with India before the conclusion of this year.
Minister of Economic Development, Transport and Trade Mohamed Saeed announced the timeline while speaking at a press conference held at the President’s Office today.
Speaking regarding the ongoing process, the Minister stated that, the government aims to commence the implementation of this agreement by the end of this year.
The initial round of negotiations between the two nations has already been completed. Minister Saeed revealed that the agreement encompasses 12 key sectors, including trade in goods and services, as well as the removal of technical barriers and areas of economic cooperation.
"We are currently working across 12 sectors, and have already consulted with 102 parties in the Maldives, including 65 private entities. Our efforts span across goods, services, technical barriers, and economic cooperation," the Minister detailed.
This agreement represents a significant initiative by President Dr. Mohamed Muizzu’s administration to diversify the Maldivian economy and create expanded opportunities for Maldivian entrepreneurs in international markets.
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