First round of India-Maldives Free Trade Agreement negotiations concludes with significant progress. Both countries reaffirm commitment to fast-track the FTA and Bilateral Investment Treaty as diplomatic ties complete 60 years.
Highlights
- India and Maldives successfully conclude the first round of FTA negotiations.
- Eight technical sessions covered key policy areas with substantial progress.
- Commerce Minister Piyush Goyal and Maldivian Minister Mohamed Saeed reviewed negotiations.
- Both sides agreed to expedite the FTA and Bilateral Investment Treaty (BIT).
- Bilateral trade grew 13.54% to USD 771.76 million in FY2025-26.
India and the Maldives have successfully concluded the first round of negotiations for a proposed Free Trade Agreement (FTA), marking a significant step towards strengthening bilateral trade and investment ties.
The negotiations were conducted virtually between June 29 and July 7, 2026. India’s delegation was led by Ujjwal Kumar Ghosh, Joint Secretary, Department of Commerce, while the Maldivian side was headed by Yusuf Riza, Chief Negotiator.
During the first round, officials from both countries held text-based discussions across eight technical sessions covering eight policy areas. According to the Ministry of Commerce and Industry, the talks made substantive progress, with both sides reaching broad convergence on several negotiating issues.
Following the negotiations, Union Commerce and Industry Minister Piyush Goyal met Maldives’ Minister of Economic Development, Transport and Trade Mohamed Saeed on July 8 to review the progress of ongoing economic initiatives, including the proposed FTA.
As India and the Maldives celebrate 60 years of diplomatic relations, the two countries reaffirmed their commitment to expedite negotiations for both the Free Trade Agreement (FTA) and the Bilateral Investment Treaty (BIT). They also agreed to deepen cooperation in tourism, startups, digital payments, MSMEs and trade to unlock new economic opportunities.
India remains the second-largest trading partner of the Maldives. Bilateral trade between the two countries increased 13.54% to USD 771.76 million in 2025-26, up from USD 679.70 million in the previous financial year.
The proposed FTA is expected to improve market access, facilitate investment flows, strengthen economic cooperation and promote sustainable growth in both countries. Officials from both sides said they are working towards a comprehensive, balanced and mutually beneficial agreement based on the principles of fairness and reciprocity.
