The Maldives and India have finished the first round of negotiations on a Free Trade Agreement (FTA). Minister of Economic Development and Trade Mohamed Saeed confirmed the milestone.
Both governments want the deal in force quickly, and Saeed said the administration aims to start implementing the agreement before the end of this year. Negotiations have now cleared the opening stage of the Maldives-India free trade process.
Negotiations Span 12 Sectors
The first round covered a wide field. Saeed said the discussions reached across 12 different sectors. Negotiators focused on services, goods, technical barriers, and economic cooperation.
Moreover, the consultation drew broad participation. Officials engaged 102 parties in total. That figure included 65 private entities from the Maldives.
“Within this, we are currently working on areas including services, goods, technical barriers, and economic cooperation, having already consulted with 102 parties across 12 sectors, including 65 private entities from the Maldives,” Saeed said.
Push to Diversify Beyond Tourism
Saeed said the Maldives-India free trade push to a broader economic goal. He argued that the country must diversify beyond tourism. Furthermore, he said the current administration is actively driving that shift.
He also warned against isolation from global markets. The Maldives must integrate into new markets, he said. In addition, he argued fresh avenues to lift exports.