The Indian government has confirmed that talks were underway to establish a Free Trade Agreement (FTA) with the Maldives.
During a press conference at the Indian External Affairs Ministry on Tuesday, Foreign Secretary Vikram Misri confirmed that discussions were ongoing.
The Indian government also confirmed that discussions were underway on an investment treaty between the two countries.
Economic Minister Mohamed Saeed announced on May 25, 2024, that the Indian government had taken the initiative to request an FTA.
However, on May 31, 2024, the Indian government announced that it had not requested such an agreement and that no discussions were underway.
This is the first time the Indian government has confirmed discussions for an FTA between the two countries.
Meanwhile, Prime Minister Narendra Modi is expected to arrive in the Maldives on July 25 for the country's 60th Independence Day celebrations.
The South Asian countries signed a free trade agreement in 2004. It was named the South Asian Free Trade Agreement (SAFTA).
The agreement was signed to empower the region economically and facilitate trade. However, the Maldives has not signed FTAs with individual countries in the region.
