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In a major step towards expanding bilateral trade and investment engagement, the first round of negotiations for the India'Maldives Free Trade Agreement (FTA) concluded successfully. The negotiations were held in virtual mode from 29 June to 7 July 2026. India's negotiating team was led by Chief Negotiator Mr. Ujjwal Kumar Ghosh, Joint Secretary, Department of Commerce, while the Maldives delegation was led by its Chief Negotiator Mr. Yusuf Riza. During the first round, negotiating teams from both sides engaged in text-based discussions across eight technical sessions covering eight policy areas. Both sides made substantive progress across the negotiating tracks and reached broad convergence on several issues. On 8 July 2026, the Ministers reviewed the progress of ongoing bilateral economic initiatives including the India'Maldives FTA negotiations. As India and the Maldives commemorate 60 years of diplomatic relations, both sides reaffirmed their commitment to expedite the conclusion of the Bilateral Investment Treaty (BIT) and the Free Trade Agreement (FTA). They also agreed to further deepen cooperation in tourism, startups, digital payments, MSMEs and trade to unlock new opportunities for both countries. The proposed FTA is expected to further strengthen bilateral economic and trade relations by enhancing market access, facilitating investment, promoting greater economic cooperation and contributing to sustainable economic growth in both countries. Both sides are working towards a broad-based, balanced and comprehensive agreement guided by the principles of fairness and reciprocity. Powered by Capital Market - Live News
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