Maldives-India FTA expected by year end

Minister of Economic Development, Transport and Trade Mohamed Saeed has said that the Maldives-India Free Trade Agreement (FTA) is expected to be finalized by the end of this year, as the government seeks to expand international market access for Maldivian businesses and create new economic opportunities.

Speaking at the Ministry of Economic Development’s “Iqthisaadhuge Dhefaraaiy” forum, Minister Saeed highlighted the significant opportunities available to Maldivians through stronger economic engagement with India.

He pointed to India’s rapid development in the information technology and entertainment sectors, saying these industries could provide substantial opportunities for Maldivian youth involved in software development, application development and other creative and digital fields.

Saeed said an important objective of the ongoing Maldives-India Bilateral Investment Treaty is to secure greater access to the Indian market for Maldivian creative products and services.

The Minister noted that the Terms of Reference (ToR) for negotiations on the Maldives-India FTA were signed in March, laying the groundwork for discussions on a comprehensive trade agreement between the two countries.

The proposed FTA is aimed at establishing an institutional framework to facilitate trade and expand commercial opportunities between the Maldives and India. Greater access to the Indian market could provide Maldivian businesses with opportunities to reach a significantly larger consumer base, while closer economic ties could also support investment and knowledge transfer.

Saeed also highlighted government initiatives aimed at integrating Maldivian businesses into the global digital economy. Through the Authentic Maldives initiative, more than 400 Maldivian entrepreneurs have already been listed on major international platforms, including Alibaba, giving local businesses greater exposure to overseas markets.

The government has been pursuing a broader strategy of expanding trade relations and securing preferential market access with various countries.

The Maldives-India FTA would further expand the country’s trade framework and could open new avenues for Maldivian exporters, entrepreneurs and creative industries seeking to enter the Indian market.