India, Maldives Conclude First Round of Free Trade Agreement Negotiations

New Delhi, Jul 14 (KNN) India and the Maldives have concluded the first round of negotiations for a proposed Free Trade Agreement (FTA), marking progress in efforts to strengthen bilateral trade and investment ties. The virtual negotiations were held from June 29 to July 7, 2026.

The negotiations were led by Joint Secretary in the Department of Commerce Ujjwal Kumar Ghosh for India and Yusuf Riza for the Maldives. 

Officials from both countries held text-based discussions across eight technical sessions covering multiple policy areas and reported progress on several negotiating issues.

On July 8, Union Commerce and Industry Minister Piyush Goyal met Maldives' Minister of Economic Development, Transport and Trade Mohamed Saeed to review progress on the FTA negotiations and other bilateral economic initiatives. 

Both sides reaffirmed their commitment to expedite negotiations on the proposed Free Trade Agreement and the Bilateral Investment Treaty (BIT). They also discussed expanding cooperation in tourism, startups, digital payments, MSMEs and trade.

According to official data, India remained the Maldives' second-largest trading partner, with bilateral trade rising to USD 771.76 million in 2025-26 from USD 679.70 million in 2024-25, registering a growth of 13.54 per cent.

The proposed FTA aims to improve market access, facilitate investment and deepen economic cooperation between the two countries through a comprehensive trade agreement.

(KNN Bureau)