The Maldives is set to finalize a Free Trade Agreement (FTA) with neighboring India soon, Economy Minister Mohammed Saeed revealed in an interview with MM TV.
Saeed stated that discussions are ongoing between the two countries following initial talks held last year. During President Dr. Mohamed Muizzu's visit to India, he and Prime Minister Narendra Modi expressed mutual interest in advancing an FTA between the two nations.
The minister highlighted the President's commitment to securing FTAs with major global markets to maximize benefits for the Maldivian economy. He emphasized that the agreement with India would be structured to ensure significant advantages for the people of the Maldives.
The current government first signed an FTA with China, which has been in force since the 1st of last month. Saeed also noted that the government has plans to establish a similar trade agreement with Turkey.
The development of these trade partnerships is part of the administration's broader strategy to boost economic growth and expand market access for Maldivian products and services.
Saeed stated that discussions are ongoing between the two countries following initial talks held last year. During President Dr. Mohamed Muizzu's visit to India, he and Prime Minister Narendra Modi expressed mutual interest in advancing an FTA between the two nations.
The minister highlighted the President's commitment to securing FTAs with major global markets to maximize benefits for the Maldivian economy. He emphasized that the agreement with India would be structured to ensure significant advantages for the people of the Maldives.
The current government first signed an FTA with China, which has been in force since the 1st of last month. Saeed also noted that the government has plans to establish a similar trade agreement with Turkey.
The development of these trade partnerships is part of the administration's broader strategy to boost economic growth and expand market access for Maldivian products and services.
