India and the Maldives have successfully concluded the first round of negotiations for a proposed Free Trade Agreement (FTA), marking a significant milestone in efforts to strengthen bilateral trade, investment and long term economic cooperation between the two neighbouring countries. The negotiations covered a wide range of policy areas and achieved substantial progress across several key negotiating tracks.
The virtual negotiations were led by Ujjwal Kumar Ghosh, Joint Secretary of India’s Department of Commerce, and Yusuf Riza, Chief Negotiator for the Maldives. Officials from both countries engaged in detailed discussions and reached broad convergence on multiple issues, laying the foundation for a comprehensive and balanced trade agreement.
The progress of the negotiations was subsequently reviewed by India’s Minister of Commerce and Industry Piyush Goyal and Maldives’ Minister of Economic Development, Transport and Trade Mohamed Saeed. The two ministers reaffirmed their commitment to expedite both the proposed Free Trade Agreement and the Bilateral Investment Treaty as India and the Maldives commemorate six decades of diplomatic relations. They also agreed to deepen collaboration in tourism, digital payments, start ups, micro, small and medium enterprises, and trade.
India is the Maldives’ second largest trading partner, and bilateral trade has continued to expand steadily. The proposed agreement is expected to improve market access, facilitate greater investment flows and create new opportunities for businesses in both countries while promoting sustainable economic growth.
The successful completion of the first negotiating round reflects the shared commitment of both nations to strengthening regional economic integration and building a modern trade partnership that supports business growth, innovation and long term prosperity.
