Maldives-India free trade talks advance as ministers meet in India

Maldives Economic Development, Transport, and Trade Minister Mohamed Saeed held bilateral talks with India's Commerce and Industry Minister Piyush Goyal during an official visit to India, both governments said. The two sides reviewed progress on a planned free trade agreement between the countries.

Saeed said the discussions covered the ongoing India-Maldives Free Trade Agreement (IMFTA) negotiations, the finalization of a Bilateral Investment Treaty, and what he described as several new initiatives to strengthen trade, investment, and economic cooperation. He said he was in India at Goyal's invitation.

The Ministry of Economic Development said the talks focused on strengthening trade, investment, and economic ties. It said the ministers reviewed progress on the IMFTA, which President Dr. Mohamed Muizzu initiated during his official visit to India in 2024.

Saeed described the talks as productive and constructive. He said the efforts reflected the shared vision of President Dr. Muizzu and Indian Prime Minister Narendra Modi to deepen the two countries' partnership through economic cooperation.

The meeting followed the first formal round of FTA negotiations. According to India's Ministry of Commerce and Industry, that round was held in virtual mode from June 29 to July 7, 2026. The terms of reference guiding the negotiations were signed in March 2026.

Both governments have said they aim to conclude the agreement by the end of 2026. Maldives Foreign Minister Iruthisham Adam said in May that the two sides would try to sign the deal this year.

Saeed has said the FTA is part of a government strategy to diversify the economy and reduce reliance on a single sector. India is one of the largest trading partners of the Maldives and one of the world's biggest consumer markets. The minister has said the agreement would give Maldivian products easier access to that market.

The independent effect of the agreement on Maldivian businesses cannot be verified at this stage, as the text is still under negotiation and has not yet been published.

India and the Maldives are marking 60 years of diplomatic relations this year. Ties between the two governments have shifted toward closer economic engagement.