India - Maldives Ties to Grow Stronger Through FTA, Says Minister Goyal

India’s Minister of Commerce and Industry, Piyush Goyal, has said that the proposed Free Trade Agreement (FTA) between India and the Maldives will further strengthen bilateral relations between the two countries.

Minister Goyal made the remarks following a meeting with the Maldives’ Minister of Economic Development and Trade, Mohamed Saeed, who is currently on an official visit to India.

Following their discussions, Goyal shared a video message on X, noting that as India and the Maldives celebrate 60 years of diplomatic relations this year, the partnership between the two countries’ leaders, businesses, and people is set to reach new heights.

He said both sides are preparing to sign a Bilateral Investment Treaty (BIT), after which work will move toward concluding the proposed Free Trade Agreement (FTA), paving the way for even stronger economic ties.

Goyal added that there are significant opportunities to expand cooperation across multiple sectors.

“There is tremendous potential to deepen engagement between the people and governments of India and the Maldives. In particular, we can strengthen cooperation in tourism and payment systems. These efforts will also benefit MSMEs in both countries.”

At the end of his message, Goyal extended his congratulations and best wishes to President Dr. Mohamed Muizzu and the people of the Maldives.

According to the Maldives’ Ministry of Economic Development and Trade, the meeting focused on strengthening economic cooperation, expanding trade and investment, and promoting sustainable economic growth through closer collaboration between the two countries.

The two ministers also agreed to continue discussions on developing a mutually beneficial Free Trade Agreement and advancing negotiations in a way that delivers benefits to both nations.

Minister Mohamed Saeed said the ongoing initiatives are an important step toward realizing the shared vision of President Dr. Mohamed Muizzu and Indian Prime Minister Narendra Modi to further deepen bilateral relations.

He added that the meeting also included extensive discussions on new trade-related projects and future initiatives aimed at expanding commercial cooperation between the Maldives and India.