The India-Maldives Free Trade Agreement (FTA) is expected to bring new opportunities and developments to Maldives’ maritime and logistics sectors, according to Minister Saeed.
Following last week’s FTA discussions, Minister Saeed said bilateral ties between the Maldives and India have strengthened through recent high-level engagements, including President Dr Mohamed Muizzu’s visit to India, his participation in business forums, and Indian Prime Minister Narendra Modi’s visit to the Maldives.
Minister Saeed explained that the FTA will make customs procedures simpler, improve regulatory cooperation, and make it easier for businesses to import goods. These changes should lower import costs, improve regional supply chains, and help the maritime industry grow.
The Bilateral Investment Treaty (BIT) also supports the FTA by offering clearer investment opportunities and a better framework for investors.
According to Minister Saeed, the BIT will provide greater confidence for Indian investors to invest in key Maldivian sectors, including logistics, tourism, education, and healthcare.
He said the agreements will not only benefit businesses but also support economic diversification and create strategic opportunities to expand Maldives’ value-added tuna market.
The government aims to use the agreement to cushion external economic shocks and build a more diversified, globally recognised and resilient economy for the Maldives. According to the Minister, the agreement will also further strengthen the long-standing economic ties between the Maldives and India.
Minister Saeed expects the FTA to take effect later this year.
